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Forex: GBP/JPY Technical Analysis – Testing Above 171.00 Figure

Forex: GBP/JPY Technical Analysis – Testing Above 171.00 Figure

2014-01-29 02:37:00
Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing above resistance at 170.66 (14.6% Fib exp.)
  • A break higher on a daily closing basis exposes 172.47 (23.6% Fib exp.)
  • Support is in the 167.68-75 area (Jan 27 low, falling channel bottom)

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

dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Testing Above 171.00 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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