Forex: GBP/JPY Technical Analysis – Rally Capped Below 165.00
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- A Shooting Star candle below resistance at 164.18 (76.4% Fib exp.) hints at losses ahead
- Support is at 162.37 (61.8% Fib exp.); breaking below that targets 160.90 (50% Fib exp.)
- Pushing above resistance sees the next upside barrier at 167.10 (100% Fib expansion)
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
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