GBP/JPY Technical Analysis– Prices continue to test resistance in the 151.20-56 area, marked by a former support level in play since late April and the 23.6% Fibonacci expansion.A break above this boundary exposes the 38.2% level at 154.33. Support is at 147.66, a former resistance level dating back to mid-February.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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