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Forex: EUR/JPY Technical Analysis – Channel Support Under Fire

Forex: EUR/JPY Technical Analysis – Channel Support Under Fire

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing falling channel support (now at 138.85)
  • Breaking lower initially exposes 137.76 (38.2% Fib ret.)
  • Above resistance at 140.78 (23.6% Fib ret., channel top) eyes 142.65 (14.6% Fib ret.)

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

dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Channel Support Under Fire

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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