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Forex: EUR/JPY Technical Analysis – Rally Capped at 140.00 Mark

Forex: EUR/JPY Technical Analysis – Rally Capped at 140.00 Mark

2013-12-05 00:47:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • A Spinning Top candle below the 140.00 mark warns a turn lower may be ahead
  • Initial support is at 137.94 (23.6% Fib); below that aims for 136.65 (38.2% Fib)
  • Near-term resistance is at 140.01, the December 3 high

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

dailyclassics_eur-jpy_body_Picture_12.png, Forex: EUR/JPY Technical Analysis – Rally Capped at 140.00 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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