Commodity Prices

Gold •23 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	944.40	-1.30	-0.14%
WTI Crude •4 hours	77.16	-1.12	-1.43%
Gasoline •4 hours	2.461	-0.007	-0.29%
Ethanol •23 days	2.161	+0.000	+0.00%
Silver •23 days	30.82	+1.16	+3.92%

Silver • 23 days	30.82	+1.16	+3.92%
Copper • 23 days	4.530	+0.111	+2.51%
Brent Crude • 3 hours	81.13	-1.24	-1.51%
Natural Gas • 4 hours	2.006	-0.035	-1.71%
Heating Oil • 4 hours	2.420	-0.052	-2.08%

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GBP/JPY - Challenging its Recent Lows

By - Oct 10, 2014, 5:46 AM CDT

GBP/JPY continues to move within a declining channel. The hourly support at 173.44 (08/10/2014 low) is challenged. A more significant support stands at 172.99. Hourly resistances can be found at 175.15 (07/10/2014 high) and 175.91 (03/10/2014 high, see also the declining channel).

In the long-term, the break of the major resistance at 163.09 (07/08/2009 high) confirms a long-term rising trend. However, the failure to hold above the resistance at 179.17 (see also psychological threshold at 180.00) favours a phase of consolidation. Strong supports lie at 172.99 (16/09/2014 low) and 169.51 (11/04/2014 low). Another resistance can be found at 183.98 (50% retracement of the 2007-2009 decline).

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