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EUR/JPY Technical Analysis 05.01.2013

EUR/JPY Technical Analysis 05.01.2013

Ilya Spivak, Head Strategist, APAC

EUR/JPY Technical Analysis- Prices are testing support at 127.70, marked by the February 6 high and the bottom of a Triangle chart pattern carved out since mid-April. A reversal higher sees Triangle resistance at 130.23, with a break above targeting the April 11 high at 131.11. Alternatively, a break below support aims for the March 8 top at 126.03

Forex_EURJPY_Technical_Analysis_05.01.2013_body_Picture_5.png, EUR/JPY Technical Analysis 05.01.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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--- 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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