Forex: EUR/JPY Technical Analysis – Bearish Signal Still Valid
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- A Bearish Engulfing candle setup, Rising Wedge pattern hint at reversal lower
- Initial support is at 133.10 (23.6% Fib); a break below that eyes 132.42 (Wedge bottom)
- Near-term resistance is in the 135.50-77 area (Oct 22 high, Wedge top)
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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