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Forex: GBP/JPY Technical Analysis – Next Stop Above 167.00?

Forex: GBP/JPY Technical Analysis – Next Stop Above 167.00?

2013-11-25 05:06:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices narrowly closed above 164.18 (76.4% Fib exp.), exposing 167.10 (100% Fib)
  • RSI is at a seven-month high, warning a pullback may be due ahead
  • A turn back below 164.18 sees initial support at 162.37 (61.8% Fib expansion)

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

dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Next Stop Above 167.00?

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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