EUR/JPY Technical Analysis: Yen Trying to Retake Momentum
EUR/JPY Technical Analysis - Prices are testing below support at 130.90, the 23.6% Fibonacci expansion, with a break lower on a daily closing basis exposing the 38.2% level at 129.76. Near-term resistance is at 131.60, the 14.6% Fib. A reversal above that eyes rising trend line support-turned-resistance now at 132.66.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. 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.