Forex: GBP/JPY Technical Analysis – Rally Stalls at 160.00 Mark

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Talking Points

  • Prices broke resistance at 158.80 (61.8% Fib), exposing the 76.4% level at 161.57
  • The 160.00 figure has emerged as interim resistance, with prices back below support
  • A daily close underneath 158.80 aims for 156.57 (50% Fib)

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dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Rally Stalls at 160.00 Mark

Daily Chart - Created Using FXCM Marketscope 2.0

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

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