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Forex: EUR/JPY Technical Analysis – Bearish Breakout Overturned

Forex: EUR/JPY Technical Analysis – Bearish Breakout Overturned

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices bounced from support at 131.26, overturning last week’s Wedge breakout
  • A break above resistance at 133.91 (61.8% Fib exp.) would expose 134.55 (76.4% Fib)
  • Support is at 133.39 (50% Fib); a turn below that targets 132.88 (38.2% Fib)

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

dailyclassics_eur-jpy_body_Picture_12.png, Forex: EUR/JPY Technical Analysis – Bearish Breakout Overturned

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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