GBPJPY Classic Technical Report 08.31.2012

DailyFX

Prices are consolidating below resistance at a falling trend line set from late March, now at 124.93. A break above that targets 125.29 and the 126.53-127.08 area. Near-term support is at 123.76, with a push beneath that exposing 122.76.

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GBPJPY_Classic_Technical_Report_08.31.2012_body_Picture_5.png, GBPJPY Classic Technical Report 08.31.2012

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

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