Forex: EUR/JPY Technical Analysis – Wedge Support at Risk
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices turned lower as expected after putting in a Bearish Engulfing candlestick pattern
- Support is in the 132.72-133.01 area (Rising Wedge bottom, 23.6% Fib retracement)
- Break of support exposes 131.47 (38.2% Fib); resistance is at the 134.00 figure
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
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? START HERE
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.