Forex: GBP/JPY Technical Analysis – Bulls Gain the Upper Hand
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- Prices broke out of consolidation to challenge resistance at 160.90 (50% Fib expansion)
- A further push higher targets 162.37 (61.8% Fib exp.)
- Below support at 159.44 (38.2% Fib) aims for 158.37 (trend line set from August)
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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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