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EURJPY Classic Technical Report 10.16.2012

EURJPY Classic Technical Report 10.16.2012

2012-10-16 11:10:00
Ilya Spivak, Head Strategist, APAC
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Prices are bouncing from rising trend line set from late July, with buyers aiming to challenge the October 5 swing high at 102.79. A break above that exposes the mid-September high at 103.85. Trend line support is now at 101.01. A push below that targets the 100.00 figure and 99.82.

EURJPY_Classic_Technical_Report_10.16.2012_body_Picture_5.png, EURJPY Classic Technical Report 10.16.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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