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EUR/JPY Technical Analysis: 7-Month Support at Risk

EUR/JPY Technical Analysis: 7-Month Support at Risk

Ilya Spivak, Head Strategist, APAC

EUR/JPY Technical Analysis- Prices are testing rising trend line support set from mid-November 2012, a barrier reinforced by the 32.8% Fibonacci retracementat 128.19. A break below that exposes the 50% level at 126.45. Near-term trend line resistance is at 131.26.

dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: 7-Month Support at Risk

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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