News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
GBPJPY Classic Technical Report 10.16.2012

GBPJPY Classic Technical Report 10.16.2012

Ilya Spivak, Head Strategist, APAC

Prices are bouncing from support at 124.98, the 38.2% Fibonacci retracement to test above falling channel top resistance at 126.56. This barrier is reinforced by a horizontal boundary at 127.08, with a break above targeting swing highs at 127.80 and 128.82. Alternatively, a reversal below support targets the channel bottom at 124.41 and the 50% retracement at 123.79.

GBPJPY_Classic_Technical_Report_10.16.2012_body_Picture_5.png, GBPJPY Classic Technical Report 10.16.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.