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GBP/JPY Technical Analysis 04.02.2013

GBP/JPY Technical Analysis 04.02.2013

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis- Prices are testing below support at 141.84, the 50% Fibonacci retracement. A break below that aims for the 61.8% level at 140.89. Near-term resistance is at 142.79, the 38.2% Fib, with a reversal above that eyeing a falling trend line at 143.42.

Forex_GBPJPY_Technical_Analysis_04.02.2013_body_Picture_5.png, GBP/JPY Technical Analysis 04.02.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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--- 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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