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GBP/JPY Technical Analysis: Rally Takes a Breather

GBP/JPY Technical Analysis: Rally Takes a Breather

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis – Prices are correcting lower after breaking above the 61.8% Fibonacci retracement at 153.07. A daily close back below this boundary exposes the 50% level at 151.93. Near-term resistance is at 154.49, the 76.4% Fib.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: Rally Takes a Breather

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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