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EUR/JPY Technical Analysis 04.29.2013

EUR/JPY Technical Analysis 04.29.2013

2013-04-29 10:23:00
Ilya Spivak, Head Strategist, APAC
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EUR/JPY Technical Analysis- Prices broke support at 128.18, the 23.6% Fibonacci retracement, exposing the 38.2% level at 126.37. A further push beneath that aims for the 50% Fib at 124.91. The 128.18 mark has been recast as near-term resistance, with a reversal back above that targeting a falling trend line 129.39.

Forex_EURJPY_Technical_Analysis_04.29.2013_body_Picture_5.png, EUR/JPY Technical Analysis 04.29.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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

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