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Forex: GBP/JPY Technical Analysis – Channel Top in Play

Forex: GBP/JPY Technical Analysis – Channel Top in Play

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Bounce from rising trend line has exposed the 154.33-155.05 area (channel top, 38.2% Fib exp.)
  • Support seen in the 149.82-150.88 region (trend line set from mid-Feb, rising channel bottom)
  • Break under 149.82 eyes support at 147.69; push above resistance targets 156.57 (50% Fib)

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

dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Channel Top in Play

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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