Forex: GBP/JPY Technical Analysis – Pound Hits 4-Year High

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Talking Points

  • Prices are testing above resistance at 156.57 (50% Fib expansion)
  • Break higher on a daily closing basis initially exposes 158.80 (61.8% Fib)
  • Near-term support at 154.33, the 38.2% expansion

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dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Pound Hits 4-Year High

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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