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EUR/JPY Technical Analysis 03.14.2013

EUR/JPY Technical Analysis 03.14.2013

Ilya Spivak, Head Strategist, APAC

EUR/JPY Technical Analysis- Prices put in a Harami candlestick pattern below resistance at 125.57, the 76.4% Fibonacci retracement, hinting a move lower may be ahead. Initial support is at 124.26, the 61.8% level, with a break below that exposing the 50% Fib at 123.20. Alternatively, a move above 125.57 aims for rising trend line support-turned-resistance at 126.52.

Forex_EURJPY_Technical_Analysis_03.14.2013_body_Picture_5.png, EUR/JPY Technical Analysis 03.14.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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