GBP/JPY Technical Analysis– Prices are testing axis line support at 149.67, a barrier reinforced by the 38.2% Fibonacci retracementat 149.53, with a break below that eyeing the 50% level at 147.31. Near-term resistance is at 152.30, the 23.6% Fib. A push above that exposes the 14.6% retracement at the 154.00 figure.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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