GBP/JPY Technical Analysis– Prices continue to consolidate below resistance at 154.00, the 14.6% Fibonacci retracement. A break below support at 152.30, the 23.6% level, targets the 38.2% Fib at 149.53. Alternatively, a move above resistance aims for the 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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