EURJPY Classic Technical Report 08.31.2012
Prices continue to drift below resistance at the top of a falling channel carved out since late May (99.29). A break above that exposes the 100.00 figure and the upper boundary of a steeper rising channel set from the July 24 low (100.08). Channel bottom support is now at 97.68.
Daily 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