Forex Analysis: GBP/JPY Classic Technical Report 12.13.2012
Prices are testing resistance at 134.62, the 61.8% Fibonacci expansion. A break above that exposes the 76.4% Fib at 135.63. Near-term support is at 133.82, the 50% expansion. A break below that targets channel resistance-turned-support at 133.25, followed by the 38.2% level at 133.02.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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