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EUR/JPY Technical Analysis: Testing Above 127.00 Anew

EUR/JPY Technical Analysis: Testing Above 127.00 Anew

Ilya Spivak, Head Strategist, APAC

EUR/JPY Technical Analysis- Prices are bouncing from support at 125.13, the 50% Fibonacci retracement, to test above the 38.2% level at 127.18. A confirmed break higher aims for a falling trend line at 130.41. Alternatively, a move below 125.13 eyes the 61.8% Fib at 123.08.

dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: Testing Above 127.00 Anew

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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