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GBP/JPY Technical Analysis: Key Threshold Seen Sub-149.00

GBP/JPY Technical Analysis: Key Threshold Seen Sub-149.00

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis – Prices pulled back after retesting support-turned-resistance at a rising trend line set from mid-June. Sellers are now poised to test support at 148.72, the 76.4% Fibonacci retracement, with a break beneath that eyeing the August 7 spike low at 147.58. Near-term resistance is at 149.47, the 61.8% level.

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

dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: Key Threshold Seen Sub-149.00

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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