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Forex: EUR/JPY Technical Analysis – July Peak in Sight

Forex: EUR/JPY Technical Analysis – July Peak in Sight

2013-08-23 08:57:00
Ilya Spivak, Head Strategist, APAC

EUR/JPY Technical Analysis - Prices soared past resistance at a falling trend line set from late July and the 38.2% Fibonacci expansion at 130.93 to challenge the 50% level at 131.85. A further push beyond that aims for the 61.8% Fib at 132.77. The 130.93 level has been recast as near-term support, with a reversal back beneath that eyeing the 130.00 figure.

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

dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – July Peak in Sight

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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