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EURJPY Classic Technical Report 10.19.2012

EURJPY Classic Technical Report 10.19.2012

Ilya Spivak, Head Strategist, APAC

Prices put in a Doji candlestick below resistance at 103.85, the September 17 high, hinting at indecision and warning a pullback may be ahead. Initial support lines up at 102.79, with a break below that targeting a rising trend line at 101.33. Alternatively, a break above resistance aims to challenge 105.54.

EURJPY_Classic_Technical_Report_10.19.2012_body_Picture_5.png, EURJPY Classic Technical Report 10.19.2012

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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