Forex Analysis: EURJPY Classic Technical Report 10.31.2012
Prices found support at a rising trend line set from late July and bounced to retest the 103.22 level. A break above that targets 104.61. Trend line support is now at 102.26. A push below that exposes the 38.2% Fibonacci retracement at 100.58.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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