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EURJPY Classic Technical Report 08.09.2012

EURJPY Classic Technical Report 08.09.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing falling trend line resistance set from the March 21 swing high (97.37), a barrier reinforced by the 23.6% Fibonacci retracement at 98.19. A break above the latter boundary targets the 100.00 figure and the 38.2% level at 100.72. Near-term support is at 96.63, the 14.6% retracement, with a break below targeting swing lows at 94.91 and 94.10.

EURJPY_Classic_Technical_Report_08.09.2012_body_Picture_5.png, EURJPY Classic Technical Report 08.09.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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