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EURJPY Classic Technical Report 07.11.2012

EURJPY Classic Technical Report 07.11.2012

Ilya Spivak, Head Strategist, APAC

Prices took out minor support at 97.63, exposing the 38.2% Fibonacci expansion at 96.86. A push through this boundary targets the 50% level at 95.40. The 97.63 level has been recast as near-term resistance, with breach higher targeting the 23.6% Fib at 98.67.

EURJPY_Classic_Technical_Report_07.11.2012_body_Picture_5.png, EURJPY Classic Technical Report 07.11.2012

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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