GBP/JPY Technical Analysis: Downside Follow-Through Finally Emerges
GBP/JPY Technical Analysis- Prices broke out of consolidation to clear support at 152.30, the 23.6% Fibonacci retracement. Sellers now target the 38.2% level at 149.53, with a break below that targeting the 50% Fib at 147.29. The 152.30 mark has been recast as near-term resistance.
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.