Commodity Prices

Gold •243 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	968.30	-3.60	-0.37%
WTI Crude •10 mins	67.40	-0.97	-1.42%
Gasoline •10 mins	2.178	-0.010	-0.45%
Ethanol •243 days	2.161	+0.000	+0.00%
Silver •243 days	30.82	+1.16	+3.92%

Silver • 243 days	30.82	+1.16	+3.92%
Copper • 243 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	70.43	-1.19	-1.66%
Natural Gas • 10 mins	4.081	-0.041	-0.99%
Heating Oil • 10 mins	2.263	+0.003	+0.12%

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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.

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