EUR/JPY Technical Analysis 04.03.2013
EUR/JPY Technical Analysis- Prices declined as expected after putting in a bearish Harami candlestick pattern. Sellers are now testing below support at 119.12, the 76.4% Fibonacci expansion, with a break below that targeting the 100% level at 117.00. Near-term resistance is at 120.43, the 61.8% Fib, with a reversal back above that eyeing the 50% expansion at 121.49.
Daily Chart - Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.