Forex: GBP/JPY Technical Analysis – Support Below 167.00 Eyed

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Talking Points

  • A bearish Three Inside Down candle pattern with negative RSI divergence hints at losses
  • Breaking below 166.88 (23.6% Fib retracement) exposes 164.92 (38.2% Fib)
  • Turning back above 169.09 (rising trend line) targets 170.05 (December 10 swing high)

Confirm your chart-based trade setups with the Technical Analyzer.

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dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Support Below 167.00 Eyed

Daily Chart - Created Using FXCM Marketscope 2.0

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

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