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Forex: GBP/JPY Technical Analysis – Reversal Lower in the Works?

Forex: GBP/JPY Technical Analysis – Reversal Lower in the Works?

2013-12-13 05:08:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • A bearish Three Inside Down candle pattern, negative RSI divergence hint at losses
  • Below support at 168.25 (rising trend line) exposes 164.92 (38.2% Fib ret.)
  • Resistance is at 170.05 (December 10 swing high)

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

dailyclassics_gbp-jpy_body_Picture_10.png, Forex: GBP/JPY Technical Analysis – Reversal Lower in the Works?

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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