EURJPY Classic Technical Report 09.05.2012
Prices continue to drift below resistance at the top of a falling channel carved out since late May (99.17). A break above that exposes the 100.00 figure and the upper boundary of a steeper rising channel set from the July 24 low (100.45). Channel bottom support is now at 98.10, with a break below that exposing downside objectives at 97.44 and 96.90.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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