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EURJPY Classic Technical Report 10.18.2012

Ilya Spivak

Prices took out resistance at 102.79, with the bulls now aiming to challenge the September 17 high at 103.85. A further push above that level targets the 105.00 figure and 105.54. The 102.79 level has been recast as support. A drop back below that aims for a rising trend line set from the late-July swing bottom, now at 101.25.

EURJPY_Classic_Technical_Report_10.18.2012_body_Picture_5.png, EURJPY Classic Technical Report 10.18.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

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