GBP/JPY Technical Analysis– Prices are testing resistance at 153.85, the April 11 swing high. A break above that targets the 61.8% Fibonacci expansion at 156.32. Near-term support is at 150.07, the 23.6% Fib retracement, with a drop beneath that eyeing the 38.2% level at 147.73.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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