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GBP/JPY Technical Analysis: Foothold Above 150.00 Reclaimed

GBP/JPY Technical Analysis: Foothold Above 150.00 Reclaimed

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis – Prices recovered above resistance at 150.05, the 38.2% Fibonacci retracement, exposing the 50% level at 150.81 as the next upside threshold. A push beyond that aims for the 61.8% Fib at 151.57. Alternatively, a move back below 150.05 eyes the 23.6% retracement at 149.11.

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

dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: Foothold Above 150.00 Reclaimed

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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