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EURJPY Classic Technical Report 10.09.2012

EURJPY Classic Technical Report 10.09.2012

Ilya Spivak, Head Strategist, APAC

Prices reversed back below 101.92, the 23.6% Fibonacci expansion, after breaking the level to the upside yesterday. Sellers now stand to target a rising trend line set from late July (now at 100.80) once again, with a break below that targeting the 100.00 figure and 99.82. The 101.92 level has been recast as resistance once again, with a break back above that exposing the October 5 high at 102.79 and the 38.2% level at 103.35.

EURJPY_Classic_Technical_Report_10.09.2012_body_Picture_5.png, EURJPY Classic Technical Report 10.09.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.