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Forex: GBP/JPY Technical Analysis – Buyers Challenge 152.00 Level

Forex: GBP/JPY Technical Analysis – Buyers Challenge 152.00 Level

Ilya Spivak, Head Strategist, APAC

GBP/JPY Technical Analysis – Prices vaulted sharply higher, pushing through the 38.2% and 50% Fibonacci expansions to test the 61.8% level (151.88). A break above that targets the 76.4% Fib at 152.89. The 50% level has been recast as near-term support.

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

dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Buyers Challenge 152.00 Level

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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