Forex: EUR/JPY Technical Analysis – Triangle Bottom in Focus
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EUR/JPY Technical Analysis
- Prices declined as expected after showing a Shooting Star candle below Triangle pattern resistance
- Break below initial support at 129.82 (23.6% Fib retracement) exposes 127.96 (August 12 low)
- Reversal above 130.97 (38.2% Fib) targets the 131.90-132.14 area (50% Fib, Triangle top)
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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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