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EUR/JPY Technical Analysis 05.09.2013

EUR/JPY Technical Analysis 05.09.2013

Ilya Spivak, Head Strategist, APAC

EUR/JPY Technical Analysis- Prices broke above resistance at the top of a Triangle pattern, hinting at bullish trend resumption ahead. The first upside barrier from here lines up at 130.94, the 50% Fibonacci expansion. A break above that targets the 61.8% level at 132.35. Near-term support is at 129.53, the 38.2% Fib.

Forex_EURJPY_Technical_Analysis_05.09.2013_body_Picture_5.png, EUR/JPY Technical Analysis 05.09.2013

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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