Forex Analysis: EURJPY Classic Technical Report 11.07.2012

DailyFX

Prices are bouncing from support at a rising trend line set from late July (102.81). Resistance lines up at 104.61. Support is reinforced by the 23.6% Fibonacci retracement at 102.11. A break below that exposes the 38.2% level at 100.58.

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Forex_Analysis_EURJPY_Classic_Technical_Report_11.07.2012_body_Picture_5.png, Forex Analysis: EURJPY Classic Technical Report 11.07.2012

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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