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GBP/JPY Technical Analysis 02.05.2013

GBP/JPY Technical Analysis 02.05.2013

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis- Prices are testing resistance at 146.55, the 38.2% Fibonacci expansion. A break above that targets the 50% level at 148.81. Near-term support is at 143.77, the 23.6% level, with a reversal back below that aiming for the January 23 low at 139.24.

Forex_GBPJPY_Technical_Analysis_02.05.2013_body_Picture_1.png, GBP/JPY Technical Analysis 02.05.2013

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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