Forex: GBP/JPY Technical Analysis – 150.00 Figure in the Spotlight
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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.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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