Forex: GBP/JPY Technical Analysis – A Top in the Works?

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Talking Points

  • Prices may be carving out a Head and Shoulders top below the 160.00 figure
  • Confirmation requires a close below 157.73 (H&S neckline, 23.6% Fib)
  • Break lower initially exposes 156.34 (38.2% Fib); Resistance is at 159.98 (Sep 19 high)

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dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – A Top in the Works?

Daily Chart - Created Using FXCM Marketscope 2.0

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

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