Forex: EUR/JPY Technical Analysis – Candle Setup Hints at Bounce
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices put in a Bullish Engulfing candle pattern, hinting a move higher is ahead
- Near-term resistance is at 133.39 (23.6% Fib); above that targets 134.03 (38.2% Fib)
- Rising Wedge support is at 132.75; below that eyes the November 5 low at 132.36
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.