EURJPY Classic Technical Report 08.15.2012
Prices are retesting falling trend line resistance set from the April 20 swing high, now at 97.00. A break higher initially targets the top of a rising channel set from the July 25 low (98.46). Channel support is at 96.13, 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
To contact Ilya, e-mail firstname.lastname@example.org. 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 email@example.com