GBPJPY Classic Technical Report 07.20.2012

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SymbolPriceChange
GBPJPY=X171.9879-0.0074

Prices are pulling back from range resistance at 123.81, with initial support lining up at 122.79. A break below this boundary initially exposes 122.12. Alternatively, a push above support targets 124.40.

GBPJPY_Classic_Technical_Report_07.20.2012_body_Picture_5.png, GBPJPY Classic Technical Report 07.20.2012

4hr Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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