Forex: GBP/JPY Technical Analysis – Channel Top Under Fire
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- Bounce from rising trend line has exposed the 154.33-96 area (channel top, 38.2% Fib expansion)
- Support seen in the 149.74-150.67 region (trend line set from mid-February, rising channel bottom)
- Break under 149.74 eyes support at 147.69; Push above resistance targets 156.57 (50% Fib)
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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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