Forex: GBP/JPY Technical Analysis – Familiar Support in Play

DailyFX

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • Prices are testing support at 157.06 (23.6% Fibonacci retracement)
  • Break lower targets 156.32, a rising trend line set from early August
  • Near-term resistance is in the 159.52-98 area, marked by recent swing highs

Confirm your chart-based trade setups with the Technical Analyzer.

View photo

.
dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Familiar Support in Play

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

New to FX? Watch this Video

For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Rates

View Comments (0)