Forex: EUR/JPY Technical Analysis – Wedge Bottom in Focus
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- Prices turned lower as expected after putting in a Bearish Engulfing candlestick pattern
- Clearing the 132.58-133.01 area would complete a Rising Wedge, signaling deeper losses
- Break of support exposes 131.47 (38.2% Fib); resistance is now at the 134.00 figure
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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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