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Forex: GBP/JPY Technical Analysis – Support Seen Above 167.00

Forex: GBP/JPY Technical Analysis – Support Seen Above 167.00

2014-01-31 09:11:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices recoiled from resistance at 170.66 (14.6% Fib exp.)
  • Below 167.14-50 (channel floor, 38.2% Fib ret.) exposes 164.77 (50% Fib ret.)
  • Above resistance aims for 172.47-173.19 (23.6% Fib exp., channel top)

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

dailyclassics_gbp-jpy_body_Picture_10.png, Forex: GBP/JPY Technical Analysis – Support Seen Above 167.00

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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