Forex Analysis: GBP/JPY Classic Technical Report 01.15.2013
Prices put in a Spinning Top candlestick coupled with negative RSI divergence below the 145.00 figure, warning a move lower may be ahead. Initial support is at 142.60, with a break below that targeting a channel bottom at 140.96. Near-term resistance is at 144.79. with a push above that aiming for the channel top at 145.95.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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