Commodity Prices

Gold •624 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,952.10	+8.40	+0.43%
WTI Crude •11 mins	96.41	+0.86	+0.90%
Gasoline •11 mins	3.217	+0.089	+2.86%
Ethanol •624 days	2.161	+0.000	+0.00%
Silver •624 days	30.82	+1.16	+3.92%

Silver • 624 days	30.82	+1.16	+3.92%
Copper • 624 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	109.33	+0.68	+0.63%
Natural Gas • 11 mins	3.084	-0.082	-2.59%
Heating Oil • 12 mins	4.454	+0.112	+2.57%

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GBP/JPY - Exhaustion in Selling Pressures?

By - Jul 29, 2014, 5:31 AM CDT

GBP/JPY has recently displayed small daily real bodies (dojis) indicating short-term indecision. A break of the hourly resistance at 173.59 (18/07/2014 high, see also the declining trendline) would suggest exhaustion in selling pressures. Another resistance stands at 174.57. A support stands at 172.38.

In the long-term, the break of the major resistance at 163.09 (07/08/2009 high) calls for further strength towards the resistance at 179.17 (15/08/2002 low). The long-term technical structure remains supportive as long as the key support at 167.78 (18/03/2014 low) holds.

Daily Technical Report