Forex: GBP/JPY Technical Analysis – Top Forming Near 170.00?

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Talking Points

  • Prices broke resistance at 168.81 (23.6% Fib exp.), exposing 170.64 (38.2% Fib exp.)
  • Negative RSI divergence warns of ebbing bullish momentum, hinting at a reversal ahead
  • Dropping back below 168.81 sees trend line support at 167.53

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dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Top Forming Near 170.00?

Daily Chart - Created Using FXCM Marketscope 2.0

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

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