GBP/JPY Technical Analysis – Topping Pattern Forming
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- Prices may be carving out a Head and Shoulders top below the 160.00 figure
- Confirmation requires a close below 157.73 (H&S neckline, 23.6% Fib)
- Break lower initially exposes 156.34 (38.2% Fib); Resistance is at 159.98 (Sep 19 high)
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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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