Forex: GBP/JPY Technical Analysis – Candles Argue for the Upside
To receive Ilya's analysis directly via email, please SIGN UP HERE
- 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 168.78 (rising trend line)
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.