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Forex: GBP/JPY Technical Analysis – Buyers Retake 170.00 Figure

Forex: GBP/JPY Technical Analysis – Buyers Retake 170.00 Figure

2014-01-15 03:40:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices reversed sharply higher, forming a bullish Piercing Line candle pattern
  • Breaking above 171.27 (14.6% Fib exp.) exposes 173.08 (23.6% Fib exp.)
  • Near-term support comes in at 168.57 (rising trend line)

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

dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Buyers Retake 170.00 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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