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GBP/JPY Classic Technical Report 07.04.2012

GBP/JPY Classic Technical Report 07.04.2012

2012-07-04 03:42:00
Ilya Spivak, Head Strategist, APAC
Share:

Prices are consolidating above the 23.6% Fibonacci expansion at 124.52. Near-term resistance lines up at 125.55, the 38.2% level, with a break above that targeting the 50% Fib at 126.39. Alternatively, a push through support exposes 123.58 as well as a rising trend line set from early June, now at 123.07.

GBPJPY_Classic_Technical_Report_07.04.2012_body_Picture_5.png, GBP/JPY Classic Technical Report 07.04.2012

4hr 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

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