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Forex Analysis: EUR/JPY Classic Technical Report 11.27.2012

Forex Analysis: EUR/JPY Classic Technical Report 11.27.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing resistance at 106.79, the 61.8%Fibonacci expansion, after taking out the 50% level at 105.54. A further break higher targets the 76.4% expansion at 108.32. The 105.54 level has been recast as support and is reinforced by a previously broken rising channel top at 105.28.

Forex_Analysis_EURJPY_Classic_Technical_Report_11.27.2012_body_Picture_1.png, Forex Analysis: EUR/JPY Classic Technical Report 11.27.2012

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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