Forex Analysis: GBP/JPY Classic Technical Report 11.21.2012
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.
Daily Chart - Created Using FXCM Marketscope 2.0
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