Forex: GBP/JPY Technical Analysis – Pound Trying to Recover
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- Prices completed a Head and Shoulders (H&S) top below 160.00 as expected
- A bounce from support at 155.25 (38.2%) eyes resistance at 157.06 (23.6% Fib)
- Break higher targets 158.09 (H&S neckline); below support aims for 153.78 (50% Fib)
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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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