GBP/JPY Technical Analysis: Rally Cut Off at Trend Line?

| 5 augusti, 2013 | 0 kommentarer

GBP/JPY Technical Analysis – Prices are testing resistance in the 151.14-35, marked by the 50% Fibonacci retracement and reinforced by the underside of a recently broken rising trend line. A break above this targets upside barriers at 151.82 and 152.66, the 61.8% and 76.4% Fib levels, respectively. Near-term support is at 150.45, the 38.2% retracement.

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dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: Rally Cut Off at Trend Line?

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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