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GBP/JPY Technical Analysis: Prices Oscillate Near 149.00

GBP/JPY Technical Analysis: Prices Oscillate Near 149.00

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis – Prices are drifting sideways above support at 148.76, the July 10 low. A break below that aims for the August 8 bottom at 147.58. Near-term trend line resistance is at 150.33, with a move above that targeting the underside of a previously broken upward-sloping barrier now at 151.94.

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

dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: Prices Oscillate Near 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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