GBP/JPY Classic Technical Report 07.06.2012
Prices took out support in the 124.31-52 area, marked by a horizontal barrier as well as the 23.6% Fibonacci expansion. Sellers now aim to challenge 123.58, followed by rising trend line set from early June now at 123.19.Alternatively, a push back above resistance exposes the 38.2% levelat 125.55.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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