Forex: GBP/JPY Technical Analysis – Support Sub-161.00 Holding

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Talking Points

  • Prices broke resistance at 160.90 (50% Fib exp.), exposing 162.37 (61.8% Fib)
  • Reversing back below 160.90 aims for 159.44 (38.2% Fib, trend line from Aug)
  • A further break higher targets 164.18 (76.4% Fib expansion)

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dailyclassics_gbp-jpy_body_Picture_11.png, Forex: GBP/JPY Technical Analysis – Support Sub-161.00 Holding

Daily Chart - Created Using FXCM Marketscope 2.0

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

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