U.S. Markets closed

Forex Analysis: EURJPY Classic Technical Report 11.08.2012

Ilya Spivak

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.

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

Daily 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

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.