Commodity Prices

Gold •771 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,720.90	-48.40	-2.74%
WTI Crude •11 mins	81.22	-2.05	-2.46%
Gasoline •11 mins	3.121	-0.032	-1.02%
Ethanol •771 days	2.161	+0.000	+0.00%
Silver •771 days	30.82	+1.16	+3.92%

Silver • 771 days	30.82	+1.16	+3.92%
Copper • 771 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	87.06	-1.92	-2.16%
Natural Gas • 11 mins	2.731	-0.073	-2.60%
Heating Oil • 13 mins	4.244	-0.060	-1.39%

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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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