GBP/JPY Technical Analysis– Prices are testing rising trend line support at 150.75, with a break below that targeting the 38.2% Fibonacci retracementat 149.53. Near-term resistance is at 152.30, the 23.6% level. A push above that exposes the 14.6% Fib at the 154.00 figure anew.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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