EURJPY Classic Technical Report 07.23.2012
Prices are testing support at 94.15, the 61.8% Fibonacci expansion. A break lower from here exposes the 76.4% Fib at 93.39. Near-term resistance lines up at 94.76, the 50% expansion, with a breach to the upside exposing the 38.2% boundary at 95.38.
4hr 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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.