Forex: GBP/JPY Technical Analysis – Standstill Below 160.00 Persists

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Talking Points

  • Prices are consolidating above support at 158.08 (trend line from August)
  • A break lower initially targets 157.06 (23.6% Fib retracement)
  • Resistance at 159.44 (38.2% Fib exp.); above that eyes 160.90 (50% Fib exp.)

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dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Standstill Below 160.00 Persists

Daily Chart - Created Using FXCM Marketscope 2.0

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

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