Forex: GBP/JPY Technical Analysis – Bulls Aim Above 154.00
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GBP/JPY Technical Analysis – Prices are testing back above support-turned-resistance at 151.56, the 23.6% Fibonacci expansion. A break higher on a daily closing basis exposes the 38.2% level at 154.33, a barrier reinforced by a rising channel top at 154.87. Trend line support is now at 150.45, followed by the channel bottom at 149.65.
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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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