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Forex: EUR/JPY Technical Analysis – Channel Bottom in Focus

Forex: EUR/JPY Technical Analysis – Channel Bottom in Focus

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing support in the 132.90-133.29 (channel bottom, 23.6% Fib)
  • A break lower targets the 38.2% Fib retracement at 132.27
  • Resistance is at 134.94 (Sep 19 high), followed by 135.73 (channel top)

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

dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Channel Bottom in Focus

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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