GBPJPY Classic Technical Report 08.20.2012


Prices are testing above falling trend line resistance set from the May 22 high and aiming to challenge the 50% Fibonacci retracement at 125.28. A break above the latter boundary targets the 61.8% level at 126.81. Near-term support is at 123.74, the 38.2% Fib.

View photo

GBPJPY_Classic_Technical_Report_08.20.2012_body_Picture_5.png, GBPJPY Classic Technical Report 08.20.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to

View Comments (0)