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Forex: EUR/JPY Technical Analysis – Indecision Below 138.00 Mark

Forex: EUR/JPY Technical Analysis – Indecision Below 138.00 Mark

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • A Shooting Star candle below resistance at 137.71 (76.4% Fib exp.) hints at losses ahead
  • Support is at 137.02 (61.8% Fib exp.); breaking below that targets 136.46 (50% Fib exp.)
  • Pushing above resistance sees the next upside barrier at 138.82 (100% Fib expansion)

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

dailyclassics_eur-jpy_body_Picture_12.png, Forex: EUR/JPY Technical Analysis – Indecision Below 138.00 Mark

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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