EUR/JPY Technical Analysis- Prices broke support marked by a rising trend line set from mid-November 2012 and the 32.8% Fibonacci retracementat 128.19. Sellers now aim to challenge the 50% level at 126.45. Alternatively, a close back above the trend line (now at 128.44) targets a downward-sloping resistance level at 131.13.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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