GBP/JPY Technical Analysis 05.28.2013
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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.