GBPJPY Classic Technical Report 10.09.2012

Ilya Spivak
October 9, 2012

Prices snapped rising trend line set from early August as well as horizontal support at 125.63. Sellers now aim to challenge 124.01, a barrier reinforced by a larger rising trend line set from the June 1 low (now at 123.49). The 125.63 level has been recast as near-term resistance, with a break back above that targeting 126.27.

GBPJPY_Classic_Technical_Report_10.09.2012_body_Picture_5.png, GBPJPY Classic Technical Report 10.09.2012
GBPJPY_Classic_Technical_Report_10.09.2012_body_Picture_5.png, GBPJPY Classic Technical Report 10.09.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

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