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EUR/JPY Technical Analysis – Yen Fights to Hold Gains

EUR/JPY Technical Analysis – Yen Fights to Hold Gains

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are bouncing from 131.12 (23.6% Fib) to retest broken trend line support (131.75)
  • A close above the trend line initially exposes 132.58 (23.6% Fibonacci retracement)
  • Breaking below 131.12 targets 129.94 (50% Fib)

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

dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis – Yen Fights to Hold Gains

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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