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EURJPY Classic Technical Report 07.20.2012

EURJPY Classic Technical Report 07.20.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing support at a falling trend line connecting major swing lows since January, now at 96.14. A break below this boundary initially exposes the June 1 low at 95.57. Near-term resistance lines up in the 98.35-99.13 area, with a push above that targeting the 100.00 figure.

EURJPY_Classic_Technical_Report_07.20.2012_body_Picture_5.png, EURJPY Classic Technical Report 07.20.2012

Daily 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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