Commodity Prices

Gold •767 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,774.90	+15.30	+0.87%
WTI Crude •11 mins	78.16	-0.02	-0.03%
Gasoline •11 mins	2.997	+0.012	+0.39%
Ethanol •767 days	2.161	+0.000	+0.00%
Silver •767 days	30.82	+1.16	+3.92%

Silver • 767 days	30.82	+1.16	+3.92%
Copper • 767 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	83.70	+0.15	+0.18%
Natural Gas • 11 mins	2.736	+0.074	+2.78%
Heating Oil • 11 mins	3.947	+0.045	+1.15%

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GBP/JPY - Challenging a Resistance Area

By - Oct 20, 2014, 6:13 AM CDT

GBP/JPY has bounced sharply near the strong support area between 169.51 (11/04/2014 low) and 167.78 (18/03/2014 low). Monitor the test of the resistance at 173.32 (see also the 38.2% retracement). Hourly supports can be found at 171.25 (intraday low) and 170.21. Another resistance lies at 175.01.

In the long-term, the trend is positive as long as the strong support area between 169.51 (11/04/2014 low) and 167.78 (18/03/2014 low) holds. However, the sharp reversal near the psychological threshold at 180.00 and the fading 200-day moving average indicate a weakening trend.

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