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GBP/JPY Technical Analysis: Selloff Held Up at 150.00 Mark

GBP/JPY Technical Analysis: Selloff Held Up at 150.00 Mark

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis– Prices are recovering from rising trend line support to test above the 23.6% Fibonacci retracement at 152.30, with a break higher exposing the 14.6% level at 154.00. Alternatively, a move beneath the trend line (now at 150.65) exposes the 38.2% mark at 149.53.

dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: Selloff Held Up at 150.00 Mark

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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