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Forex: GBP/JPY Technical Analysis – Bounce Sees Resistance at 157.00

Forex: GBP/JPY Technical Analysis – Bounce Sees Resistance at 157.00

2013-10-10 11:52:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices completed a Head and Shoulders (H&S) top below 160.00 as expected
  • A near-term bounce sees prices testing resistance in the 157.06-63 area
  • Break higher initially targets 159.44; near-term support is at 155.25

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

dailyclassics_gbp-jpy_body_gbpjpy.png, Forex: GBP/JPY Technical Analysis – Bounce Sees Resistance at 157.00

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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