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GBPJPY Classic Technical Report 09.05.2012

GBPJPY Classic Technical Report 09.05.2012

2012-09-05 09:57:00
Ilya Spivak, Head Strategist, APAC
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Prices are consolidating below resistance at a falling trend line set from late March, now at 124.71. 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.

GBPJPY_Classic_Technical_Report_09.05.2012_body_Picture_5.png, GBPJPY Classic Technical Report 09.05.2012

Daily 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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