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Forex: EUR/JPY Technical Analysis – Prices Oscillate Around 130.00

Forex: EUR/JPY Technical Analysis – Prices Oscillate Around 130.00

Ilya Spivak, Head Strategist, APAC

EUR/JPY Technical Analysis - Prices are stalling above the 23.6% Fibonacci expansion at 129.80. A break below that aims for the August 12 low at 127.96. Near-term resistance is at a falling trend line set from late July, now at 130.84. This barrier is reinforced by the 38.2% expansion at 130.93, with a push above that eyeing the 50% Fib at 131.85.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Prices Oscillate Around 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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