Forex: GBP/JPY Technical Analysis – Consolidation Breaks Upward

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Talking Points

  • Prices are testing above resistance at 157.80, the 61.8% Fib expansion
  • Break higher on a daily closing basis targets the 76.4% level at 161.57
  • Near-term support is at 156.57, the 50% Fib

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dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Consolidation Breaks Upward

Daily Chart - Created Using FXCM Marketscope 2.0

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

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