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EUR/JPY Classic Technical Report 07.09.2012

EUR/JPY Classic Technical Report 07.09.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing minor support at 97.69. A bounce from here sees resistance at 98.67, the 23.6% Fibonacci expansion. Alternatively, renewed downward pressure aims to challenge the 38.2% Fib at 96.86. A break below that exposing the 50% level at 95.40.

EURJPY_Classic_Technical_Report_07.09.2012_body_Picture_5.png, EUR/JPY Classic Technical Report 07.09.2012

8hr Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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