EUR/JPY Classic Technical Report 07.03.2012
Prices are bouncing from support at 99.75 marked by the intersection of a rising trend line and the 23.6% Fibonacci expansion. Near-term resistance lines up at 100.62, the 38.2% Fib, with a break above that exposing the 50% level at 101.34. Alternatively, a push below support exposes recent swing lows at 98.74 and 98.32.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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