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EUR/JPY Technical Analysis: Prices Probe Below 130.00

EUR/JPY Technical Analysis: Prices Probe Below 130.00

2013-08-06 03:49:00
Ilya Spivak, Head Strategist, APAC
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EUR/JPY Technical Analysis - Prices broke support at 130.90, the 23.6% Fibonacci expansion, exposing the 38.2% level at 129.76. A further push beneath this eyes the 50% Fib at 128.84. The 130.90 mark has been recast as near-term resistance, with a reversal back above that aiming for the 14.6% Fibat 131.60.

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dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: Prices Probe Below 130.00

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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