EURJPY Classic Technical Report 07.12.2012
Prices are testing through support at 96.87, the 38.2% Fibonacci expansion, with a break lower exposing the June 1 bottom at 96.42. Piercing below the latter boundary exposes the June low at 95.57 and 50% Fib at 95.40. Yesterday’s high at 97.87 and the 23.6% expansion at 98.68 mark near-term resistance.
8hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to firstname.lastname@example.org