EURJPY Classic Technical Report 08.14.2012
Prices are retesting falling trend line resistance set from the March 21 swing high, now at 97.01. A break higher initially targets the top of a rising channel set from the July 25 low (98.35). Channel support is at 96.03, with a push below that aiming to challenge swing lows at 94.91 and 94.10.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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