EUR/JPY Technical Analysis 05.28.2013
EUR/JPY Technical Analysis- Prices declined as expected to find support at 130.34, the 23.6% Fibonacci retracement. The pair is now mounting a shallow recovery to retest the 14.6% level at 131.65, with a reversal back above that eyeing the May 22 swing high at 133.79. Alternatively, a renewed push lower that clears support aims for the 38.2% Fib at 128.19.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. 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.