Forex Analysis: GBP/JPY Classic Technical Report 01.10.2013

DailyFX

Prices are edging lower as expected after putting in a Bearish Engulfing candlestick pattern. Near-term support is at 138.60, the 23.6% Fibonacci retracement, with a break below that targeting the 38.2% level at 136.13. Near-term resistance is at 142.60, the January 2 high.

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Forex_Analysis_GBPJPY_Classic_Technical_Report_01.10.2013_body_Picture_1.png, Forex Analysis: GBP/JPY Classic Technical Report 01.10.2013

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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