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GBP/JPY Technical Analysis 02.12.2013

GBP/JPY Technical Analysis 02.12.2013

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis- Prices are pulling back from support-turned-resistance at a rising trend line set from late January. Initial support is at 145.90, the 23.6% Fibonacci retracement. A break below that targets the 38.2% mark at 144.63. Near-term resistance is at 147.96, the February 7 high.

Forex_GBPJPY_Technical_Analysis_02.08.2013_body_Picture_5.png, GBP/JPY Technical Analysis 02.12.2013

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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