Forex: GBP/JPY Technical Analysis – Bears Battering 157.00 Anew
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Talking Points
Prices are testing support at 157.06 (trend line from Aug, 23.6% Fib retracement)
A break lower initially targets 155.25, (38.2% Fib retracement)
Resistance is at 159.44 (38.2% Fib expansion), above that aims for 160.90 (50% Fib exp.)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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