Forex Analysis: EUR/JPY Classic Technical Report 11.30.2012
Prices are testing above resistance at 106.79, the 61.8%Fibonacci expansion. A confirmed break above that on a daily closing basis targets the 76.4% expansion at 108.32.Initial support lines up at 105.54, the 50% level. This barrier is reinforced by a previously broken rising channel top at 105.38, with a drop below this exposing the 38.2% Fib at 104.33.
Daily Chart - Created Using FXCM Marketscope 2.0
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