EUR/JPY Technical Analysis 05.27.2013
EUR/JPY Technical Analysis- Prices declined as expected, taking out support at 131.65 marked by the 14.6% Fibonacci retracement to expose the 23.6% level at 130.34. Continued selling targets the 38.2% Fib at 128.19. The 131.65 level has been recast as near-term resistance, with a reversal back above that eyeing the May 22 swing high at 133.79.
Daily Chart - Created Using FXCM Marketscope 2.0
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