Forex: EUR/JPY Technical Analysis – Support Seen Sub-130.00
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EUR/JPY Technical Analysis - Prices moved lower as expected after putting in a Shooting Star candlestick below resistance at a falling trend line set from late May. The pair is now testing support at 129.76, the 38.2% Fibonacci retracement. A break below that eyes the 50% Fib at 128.84. Near-term resistance is at 130.90, the 23.6% retracement.
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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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