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GBP/JPY Technical Analysis: Pound Soars Toward 152.00

GBP/JPY Technical Analysis: Pound Soars Toward 152.00

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis– Prices launched higher out of consolidation to challenge the 50% Fibonacci retracement at 151.93. A break above that targets the 61.8% level at 153.07. Alternatively, a move back below the 38.2% Fib at 150.79 sees the next downside barrier at 149.37, the 23.6% retracement.

dailyclassics_gbp-jpy_body_Picture_11.png, GBP/JPY Technical Analysis: Pound Soars Toward 152.00

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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