Commodity Prices

Gold •736 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,628.20	-1.90	-0.12%
WTI Crude •10 mins	71.95	-0.13	-0.18%
Gasoline •11 mins	3.008	-0.031	-1.02%
Ethanol •736 days	2.161	+0.000	+0.00%
Silver •736 days	30.82	+1.16	+3.92%

Silver • 736 days	30.82	+1.16	+3.92%
Copper • 736 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	76.16	-0.14	-0.18%
Natural Gas • 11 mins	2.980	-0.032	-1.06%
Heating Oil • 10 mins	3.525	-0.047	-1.31%

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GBP/JPY - Sharp Reversal

By - Sep 08, 2015, 5:13 AM CDT

GBP/JPY is now bouncing back towards 185.00. Hourly resistance lies at 187.64 (28/08/2015 high). Key resistance can be found at 195.88 (24/06/2015 high). However, we remain bearish on the pair as the technical structure suggests a downside momentum.

In the long-term, the lack of any medium-term bearish reversal pattern favours a bullish bias. The successful test of the strong support at 175.51 (03/02/2015 low) signals persistent buying interest. Key resistances stand at 197.45 (26/09/2008 high). A major support area can be found between 169.51 (11/04/2014 low) and 167.78 (18/03/2014 low).

Daily Technical Report