Forex Analysis: EUR/JPY Classic Technical Report 12.31.2012
Prices broke resistance at 113.50, the 23.6% Fibonacci expansion, exposing the 38.2% level at 115.28. A further push above that boundary aims for the 50% Fib at 116.71. The 113.50 level has been recast as near-term support, with a reversal back below that targeting the 14.6% expansionat 112.39.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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