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Forex Analysis: GBP/JPY Classic Technical Report 01.15.2013

Forex Analysis: GBP/JPY Classic Technical Report 01.15.2013

Ilya Spivak, Head Strategist, APAC

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.

Forex_Analysis_GBPJPY_Classic_Technical_Report_01.15.2013_body_Picture_1.png, Forex Analysis: GBP/JPY Classic Technical Report 01.15.2013

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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