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Forex: GBP/JPY Technical Analysis – Rally Stalls Above 173.00 Figure

Forex: GBP/JPY Technical Analysis – Rally Stalls Above 173.00 Figure

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing above 173.29 (50% Fib exp.); breaking higher eyes 174.88 (61.8% Fib)
  • Near-term support is at 171.70 (38.2% Fibonacci expansion)
  • Reversing below support targets 169.74 (23.6% Fib)

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

dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Rally Stalls Above 173.00 Figure

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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