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Forex Analysis: EURJPY Classic Technical Report 11.01.2012

Forex Analysis: EURJPY Classic Technical Report 11.01.2012

Ilya Spivak, Head Strategist, APAC

Prices found support at a rising trend line set from late July and are bouncing to retest resistance at 104.61. A break above that exposes the 107.99 level. Trend line support is now at 102.41. A push below that exposes the 38.2% Fibonacci retracement at 100.58.

Forex_Analysis_EURJPY_Classic_Technical_Report_11.01.2012_body_Picture_5.png, Forex Analysis: EURJPY Classic Technical Report 11.01.2012

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.