GBP/JPY Technical Analysis– Prices are testing resistance at 156.72, the 76.4% Fibonacci expansion. A break above that aims for the 100% level at 159.90. Near-term support is at 154.75, the 61.8% Fib, with a reversal back beneath that eyeing the 50% expansion at 153.15.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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