Forex: GBP/JPY Technical Analysis – Candles Argue for the Upside
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Talking Points
Prices reversed sharply higher, forming a bullish Piercing Line candle pattern
Breaking above 171.27 (14.6% Fib exp.) exposes 173.08 (23.6% Fib exp.)
Near-term support comes in at 168.78 (rising trend line)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
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