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EUR/JPY Technical Analysis: Move to Test 130.00 Next?

EUR/JPY Technical Analysis: Move to Test 130.00 Next?

Ilya Spivak, Head Strategist, APAC

EUR/JPY Technical Analysis- Prices bounced from support above 124.72, the 61.8% Fibonacci retracement, to break back above the 50% level at 126.45. The bulls are now aims to challenge the 38.2% Fib at 128.19, with a further push beyond that eyeing falling trend line resistance at 130.25. The 126.45 mark has been recast as near term support.

dailyclassics_eur-jpy_body_Picture_12.png, EUR/JPY Technical Analysis: Move to Test 130.00 Next?

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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