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Forex Analysis: EURJPY Classic Technical Report 11.01.2012

Forex Analysis: EURJPY Classic Technical Report 11.01.2012

2012-11-01 08:06:00
Ilya Spivak, Sr. Currency Strategist
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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 Dailyfx.com

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

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