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EUR/JPY Classical Technical Report 08.08

EUR/JPY Classical Technical Report 08.08

2011-08-08 04:51:00
Joel Kruger, Technical Strategist
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dailyclassics_eur-jpy_body_eurjpy2.png, EUR/JPY Classical Technical Report 08.08

EUR/JPY: Any pullbacks below 110.00 continue to be very well supported by the previous multi-day resistance area from May 2010 through February 2011. Look for a fresh medium-term higher low to carve out around 110.00 ahead of the next major upside extension back towards and eventually through the recent highs by 123.35. Ultimately, only a sustained break below 110.00 concerns.

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