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Forex Analysis: EUR/JPY Classic Technical Report 12.24.2012

Forex Analysis: EUR/JPY Classic Technical Report 12.24.2012

2012-12-24 11:34:00
Ilya Spivak, Head Strategist, APAC
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Prices are edging lower after putting in a bearish Dark Cloud Cover candlestick pattern. Initial support is at 110.71, the 14.6% Fibonacci retracement. A break below that targets the 23.6% level at 109.62. Near-term term resistance is at 112.49, the December 19 high.

Forex_Analysis_EURJPY_Classic_Technical_Report_12.24.2012_body_Picture_1.png, Forex Analysis: EUR/JPY Classic Technical Report 12.24.2012

8hr 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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