Forex: GBP/JPY Technical Analysis – Resistance Seen Above 159.00
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- Prices bounced from support at 157.06 (trend line from Aug, 23.6% Fib ret.)
- Breaking resistance at 159.44 (38.2% Fib expansion) exposes 160.90 (50% Fib exp.)
- A reversal below 157.06 initially eyes 155.25 (38.2% Fib retracement)
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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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