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Forex: EUR/JPY Technical Analysis – Euro Mounts Swift Rebound

Forex: EUR/JPY Technical Analysis – Euro Mounts Swift Rebound

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are probing above Wedge bottom support-turned-resistance to test 133.35 (50% Fib ret.)
  • A break higher initially exposes 133.86 (61.8% Fib retracement)
  • Near-term support is at 132.85 (38.2% Fib); below that exposes 132.22 (23.6% Fib)

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

dailyclassics_eur-jpy_body_eurjpy.png, Forex: EUR/JPY Technical Analysis – Euro Mounts Swift Rebound

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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