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Technical analysis for crosses(EUR/JPY)-6/23/2008

29 Sep, 2008 @ 04:14 am EST

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(EUR/JPY)
The Euro declined against the Yen after the pair reached the168.05 resistance level which if was breached the 168.84 target would have been activated, the pair is undergoing much needed correction after it was being traded within an overbought area, the point at 166.58 offers good demand for the pair though if it was breached the pair might drop back to the 165.68 support level.
Support	167.38	166.94	166.58	166.13	165.68
Resistance	167.66	168.05	168.34	168.73	168.98
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