Back
29 Mar 2019
EUR/JPY Technical Analysis: Bears eye breakout of triangle, target 50% Fibo ahead March swing lows
- EUR/JPY stalled through the 61.8% Fibo of the late Sep highs to flash crash lows and is now testing the 38.2% Fibo of the 2019 range at the 124 handle and trendline support of the symmetrical triangle chart pattern - a potential breakout point.
- Bears can target the 123.40 mid-January low ahead of 123 and the 50% fibo ahead of 122.50 and then 121.50.
- On the flip side, the 61.8% Fibo guards territory towards the 200-day ma just below the 128 handle.
