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GBP/JPY Technical Analysis 05.29.2013

GBP/JPY Technical Analysis 05.29.2013

2013-05-29 12:47:00
Ilya Spivak, Head Strategist, APAC
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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.

Forex_GBPJPY_Technical_Analysis_05.29.2013_body_Picture_5.png, GBP/JPY Technical Analysis 05.29.2013

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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