Forex: GBP/JPY Technical Analysis – Trying to Build Above 172.00
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- 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)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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