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Forex: EUR/JPY Technical Analysis – Euro Finds Interim Support

Forex: EUR/JPY Technical Analysis – Euro Finds Interim Support

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Breaking the bottom of a Rising Wedge pattern hints a larger downward reversal is at hand
  • Initial support is at 131.47 (38.2% Fib retracement); below that eyes 130.22 (50% Fib)
  • Wedge bottom support-turned-resistance is now at 132.89

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

dailyclassics_eur-jpy_body_Picture_12.png, Forex: EUR/JPY Technical Analysis – Euro Finds Interim Support

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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