By Ilya Spivak, Currency Strategist
To receive Ilya's analysis directly via email, please SIGN UP HERE
Talking Points:
- EUR/JPY Technical Strategy: Flat
- Support: 137.51, 135.33, 133.56
- Resistance:140.15, 141.50, 142.69
The Euro continues to mark time above the 137.00 figure against the Japanese Yen
as prices await clear-cut direction cues. A daily close below the 23.6%
Fibonacci retracement at 137.51 exposes the 38.2% level at 135.33.
Alternatively, a push above the 14.6% Fib at 140.15 clears the way for a
test of the 23.6% expansion at 141.50.
An actionable trade setup is absent at this point,
arguing against committing to a directional bias on long or short side.
We will continue to stand aside for now, waiting for a clear-cut trading
opportunity to present itself in the days ahead.
Add these technical levels directly to your charts with our Support/Resistance Wizard app!
-
-- Written by Ilya Spivak, Currency Strategist for DailyFX.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.
Learn forex trading with a free practice account and trading charts from FXCM.
