Forex: GBP/JPY Technical Analysis – Familiar Support in Play
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices are testing support at 157.06 (23.6% Fibonacci retracement)
- Break lower targets 156.32, 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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? Watch this Video
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.