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Forex: GBP/JPY Technical Analysis – Bulls Set Sights Above 171.00

Forex: GBP/JPY Technical Analysis – Bulls Set Sights Above 171.00

2013-12-10 04:17:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke resistance at 169.26 (23.6% Fib exp.), exposing 171.36 (38.2% Fib exp.)
  • A further push beyond that aims for 173.07 (50% Fib expansion)
  • Reversing back below 169.26 targets 165.72 (23.6% Fib retracement)

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

dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Bulls Set Sights Above 171.00

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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