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Forex: GBP/JPY Technical Analysis – Bears Battering 157.00 Anew

Forex: GBP/JPY Technical Analysis – Bears Battering 157.00 Anew

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing support at 157.06 (trend line from Aug, 23.6% Fib retracement)
  • A break lower initially targets 155.25, (38.2% Fib retracement)
  • Resistance is at 159.44 (38.2% Fib expansion), above that aims for 160.90 (50% Fib exp.)

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

dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Bears Battering 157.00 Anew

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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