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GBPJPY Decline Likely Extends

By Jamie Saettele, CMT, Sr. Technical Strategist
09 January 2009 16:51 GMT

Having broke below yesterday's low, the GBPJPY is poised to extend losses into support near 135.75.  This may be a strong support area though as it is the 1/6 low, 50% retracement of 129.82-141.68 and the 100% extension of the decline from 141.68-137.22.

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09 January 2009 16:51 GMT