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Forex: EUR/JPY Technical Analysis – Double Top Set Above 135.00?

Forex: EUR/JPY Technical Analysis – Double Top Set Above 135.00?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices recoiled from 135.50 (Oct swing top), showing a Bearish Engulfing candle pattern
  • Support is now at 134.33 (14.6% Fib ret.); breaking below that eyes 133.34 (23.6% Fib)
  • Resistance remains at 135.50; negative RSI divergence bolsters the bearish argument

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

dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Double Top Set Above 135.00?

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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