EURJPY Classic Technical Report 08.16.2012
Prices are testing above falling trend line resistance set from the April 20 swing high, now at 96.90. A confirmed break higher initially targets the top of a rising channel set from the July 25 low (98.62). Channel support is at 96.24, 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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