Home EUR/JPY Technical Analysis: Bears eye breakout of triangle, target 50% Fibo ahead March swing lows

EUR/JPY Technical Analysis: Bears eye breakout of triangle, target 50% Fibo ahead March swing lows

Updated: 29 Mar. 2019 | 02:57

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.

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