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GBP/JPY Technical Analysis 05.14.2013

GBP/JPY Technical Analysis 05.14.2013

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis- Prices are stalling below resistance at 156.72, the 76.4% Fibonacci expansion. A break above that aims for the 100% level at 159.90. Near-term support is at 154.75, the 61.8% Fib, with a reversal back beneath that eyeing the 50% expansion at 153.15.

Forex_GBPJPY_Technical_Analysis_05.14.2013_body_Picture_5.png, GBP/JPY Technical Analysis 05.14.2013

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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