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GBP/JPY Technical Analysis 05.28.2013

GBP/JPY Technical Analysis 05.28.2013

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis- Prices are bouncing from support at 152.30, the 23.6% Fibonacci retracement. Near-term resistance is at 154.00, the 14.6% Fib, with a break above that eyeing the May 13 high at 156.77. Alternatively, a move below support targets the 38.2% level at 149.53.

Forex_GBPJPY_Technical_Analysis_05.28.2013_body_Picture_5.png, GBP/JPY Technical Analysis 05.28.2013

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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