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Forex Analysis: GBP/JPY Classic Technical Report 11.21.2012

Forex Analysis: GBP/JPY Classic Technical Report 11.21.2012

2012-11-21 13:39:00
Ilya Spivak, Sr. Currency Strategist
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Prices are testing above the 50% Fibonacci expansion at 131.09, with a confirmed breakout exposing the 61.8% level at 132.39. Near-term support lines up at 129.80, the 38.2% Fib. A drop below that aims for trend line resistance-turned-support at 129.13.

Forex_Analysis_GBPJPY_Classic_Technical_Report_11.21.2012_body_Picture_5.png, Forex Analysis: GBP/JPY Classic Technical Report 11.21.2012

Daily 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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