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Forex: GBP/JPY Technical Analysis – Pound Capped at 160.00

Forex: GBP/JPY Technical Analysis – Pound Capped at 160.00

2013-10-24 12:04:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices are testing support at 157.06 (23.6% Fibonacci retracement)
  • Break lower targets 156.23, a rising trend line set from early August
  • Near-term resistance is in the 159.52-98 area, marked by recent swing highs

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

dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Pound Capped at 160.00

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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