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Forex: GBP/JPY Technical Analysis – Support Seen Above 165.00

Forex: GBP/JPY Technical Analysis – Support Seen Above 165.00

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • A Harami candlestick pattern hints a move lower may be ahead
  • Initial support is at 165.72 (23.6% Fib); below that aims for 163.62 (38.2% Fib)
  • Near-term resistance is at 169.13, the December 3 high

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

dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Support Seen Above 165.00

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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