GBP/JPY Technical Analysis – Aiming Above 170.00 Figure

| 13 februari, 2014 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • GBP/JPY Technical Strategy: Flat
  • Support: 169.35 (50% Fib ret.), 168.05 (38.2% Fib ret.)
  • Resistance: 170.64 (61.8% Fib ret.), 172.24 (76.4% Fib ret.)

The British Pound continues to push higher against the Japanese Yen, with prices poised to extend the rally after breaking the 50% Fibonacci retracement at 169.35. Buyers now aim to challenge the 61.8% level at 170.64, with a break above that aiming for the 76.4% Fib at 172.24. Alternatively, a reversal back below 169.35 targets the 38.2% retracement at 168.05.

The pair is trading too close to near-term resistance to make a long position viable from a risk/reward perspective. On the other hand, the short side lacks an actionable reversal signal. We will continue to stand aside for now.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_gbp-jpy_body_Picture_11.png, GBP/JPY Technical Analysis  Aiming Above 170.00 Figure

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by Ilya Spivak, Currency Strategist for

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *