Forex Analysis: GBP/JPY Classic Technical Report 11.29.2012
Prices continue to consolidate below resistance at 132.39, the 61.8% Fibonacci expansion. Initial support lines up at 131.09, the 50% level, with a drop below that targeting the 38.2% Fib at 129.80. Alternatively, a renewed push to the upside that clears resistance exposes the 76.4% Fib at 133.96.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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