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