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Forex: GBP/JPY Technical Analysis – Pound Tops as Expected

Forex: GBP/JPY Technical Analysis – Pound Tops as Expected

2013-10-04 12:36:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices completed a Head and Shoulders top below 160.00 as expected
  • Sellers are now testing support at 156.34 (38.2% Fib); close under that eyes 155.21 (50% Fib)
  • Near-term resistance is at 157.73 (23.6% Fib retracement)

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

dailyclassics_gbp-jpy_body_Picture_6.png, Forex: GBP/JPY Technical Analysis – Pound Tops as Expected

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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