EUR/JPY Technical Analysis: Direction Sought Above 128.00
EUR/JPY Technical Analysis - Prices continue to test support at 128.31, the 50% Fibonacci expansion. Near-term resistance is marked by the 38.2% level at 129.35. A break back above that aims for the 23.6% Fib at 130.65. Alternatively, a reversal below support targets the 61.8% expansion at 127.26.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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