Forex: GBP/JPY Technical Analysis – 150.00 Figure in the Spotlight
To receive Ilya's analysis directly via email, please SIGN UP HERE
GBP/JPY Technical Analysis – Prices recoiled from resistance at 154.33, the 38.2% Fibonacci expansion, taking out the 23.6% level at 151.56. Sellers now target the bottom of a rising channel set from mid-June, now at 149.61. A further push beneath that eyes a horizontal barrier at 147.69. The 151.56 level has been recast as near-term resistance.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.