GBP/JPY Technical Analysis– Prices broke above resistance in the 151.20-56 area, marked by a former support level in play since late April and the 23.6% Fibonacci expansion.The bulls now aim to challenge the 38.2% level at 154.33. Alternatively, a move back beneath 151.20 eyes the 150.00 figure.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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