GBP/JPY Technical Analysis 05.29.2013
GBP/JPY Technical Analysis- Prices are reversing lower from resistance at 154.00, the 14.6% Fibonacci retracement, to test the 23.6% level at 152.30. A break below that targets the 38.2% Fib at 149.53. Alternatively, a move above resistance aims for the May 13 high at 156.77.
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.