Forex Analysis: EURJPY Classic Technical Report 11.08.2012

DailyFX

Prices are testing belowthe 23.6% Fibonacci retracement at 102.11 after breaking past a rising trend line set from late July. A close below this barrier exposes the 38.2% level at 100.58. Trend line support-turned-resistance is now at 102.96.

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Forex_Analysis_EURJPY_Classic_Technical_Report_11.08.2012_body_Picture_5.png, Forex Analysis: EURJPY Classic Technical Report 11.08.2012

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

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