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GBP/JPY Technical Analysis 02.08.2013

GBP/JPY Technical Analysis 02.08.2013

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis- Prices broke rising trend line support to challenge the 23.6% Fibonacci retracement at 145.90. A break below that aims for the 38.2% level at 144.63. Near-term resistance is at 147.24.

Forex_GBPJPY_Technical_Analysis_02.08.2013_body_Picture_1.png, GBP/JPY Technical Analysis 02.08.2013

4hr 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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