GBP/JPY Technical Analysis– Prices launched a sharp recovery following the BOJ monetary policy announcement, with buyers testing resistance at 144.08 marked by the 61.8% Fibonacci retracement. A break above that targets falling trend line resistance at 144.75.
Daily Chart – Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya’s e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed