GBP/JPY Technical Analysis– Prices are testing below support at 152.30, the 23.6% Fibonacci retracement, with a break downward on a daily closing basis exposing the 38.2% level at 149.53. Near-term resistance is at 154.00, the 14.6% Fib, followed by May 13 high at 156.77.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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