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Forex: GBP/JPY Technical Analysis – Bears Breach 156.00 Mark

Forex: GBP/JPY Technical Analysis – Bears Breach 156.00 Mark

2013-10-07 08:22:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices completed a Head and Shoulders top below 160.00 as expected
  • A break of support at 156.34 (38.2% Fib) has exposed 155.21 (50% Fib)
  • Below 155.21 aims for 154.09 (61.8% Fib); 156.34 now recast as resistance

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

dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Bears Breach 156.00 Mark

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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