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Forex: GBP/JPY Technical Analysis – Key Trend Line Broken

Forex: GBP/JPY Technical Analysis – Key Trend Line Broken

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • A break of rising trend line support has exposed 167.14 (38.2% Fib ret.)
  • Pushing further below that targets 164.77 (50% Fib retracement)
  • Back above the trend line (169.34) eyes 170.08 (23.6% Fib ret.)

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

dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Key Trend Line Broken

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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GBP/JPY
Bullish