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Forex: EUR/JPY Technical Analysis – Stalling Above January Low

Forex: EUR/JPY Technical Analysis – Stalling Above January Low

2014-01-24 13:11:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices completed a Bullish Engulfing candle pattern, hinting at gains ahead
  • Above 142.60 (14.6% Fib exp.) exposes 143.90 (23.6% Fib exp.)
  • Near-term support is at 140.49, the January 13 low

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

dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Stalling Above January Low

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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