GBP/JPY Technical Analysis– Prices are testing below support at 141.84, the 50% Fibonacci retracement. A break below that aims for the 61.8% level at 140.89. Near-term resistance is at 142.79, the 38.2% Fib, with a reversal above that eyeing a falling trend line at 143.42.
Daily Chart – Created Using FXCM Marketscope 2.0
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— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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