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Forex: GBP/JPY Technical Analysis – Quiet Consolidation Continues

Forex: GBP/JPY Technical Analysis – Quiet Consolidation Continues

2013-09-17 12:43:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke above resistance at 156.57 (50% Fib), exposing 158.80 (61.8% Fib)
  • A further push upward targets 161.57, the 76.4% Fib expansion
  • 156.57 is now support. A turn back under that eyes the 38.2% level at 154.33

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

dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Quiet Consolidation Continues

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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