EUR/JPY Classical Technical Report 08.23
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 by 108.00 ahead of the next major upside extension back towards and eventually through the recent highs by 123.35. Ultimately, only a break back below 108.00 concerns.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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