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Forex: GBP/JPY Technical Analysis – Trying to Build Above 172.00

Forex: GBP/JPY Technical Analysis – Trying to Build Above 172.00

2014-01-21 13:16:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices reversed sharply higher, forming a bullish Piercing Line candle pattern
  • Closing above 171.27 (14.6% Fib exp.) exposes 173.08 (23.6% Fib exp.)
  • Near-term support comes in at 169.00 (rising trend line)

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

dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Trying to Build Above 172.00

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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