Forex: GBP/JPY Technical Analysis – Support Met Below 167.00
To receive Ilya's analysis directly via email, please SIGN UP HERE
- A bearish Three Inside Down candle pattern with negative RSI divergence hints at losses
- Breaking below 166.88 (23.6% Fib retracement) exposes 164.92 (38.2% Fib)
- Resistance is in the 169.52-170.05 area (rising trend line, December 10 swing high)
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
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? START HERE
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.