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EURJPY Classic Technical Report 10.17.2012

EURJPY Classic Technical Report 10.17.2012

Ilya Spivak, Head Strategist, APAC

Prices took out resistance at 102.79, with the bulls now aiming to challenge the September 17 high at 103.85. A further push above that level targets the 105.00 figure and 105.54. The 102.79 level has been recast as support. A drop back below that aims for a rising trend line set from the late-July swing bottom, now at 101.13.

EURJPY_Classic_Technical_Report_10.17.2012_body_Picture_5.png, EURJPY Classic Technical Report 10.17.2012

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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