GBP/JPY Technical Analysis 03.08.2013

Ilya Spivak
March 8, 2013

GBP/JPY Technical Analysis- Prices are testing above resistance at 142.88, the 50% Fibonacci retracement, eyeing the 61.8% level 144.08. A break above that targets the 76.4% Fib at 145.56. Near-term support is at 141.69, the 38.2% level, with a move below that targeting the 23.6% retracement at 140.21.

Forex_GBPJPY_Technical_Analysis_03.08.2013_body_Picture_5.png, GBP/JPY Technical Analysis 03.08.2013
Forex_GBPJPY_Technical_Analysis_03.08.2013_body_Picture_5.png, GBP/JPY Technical Analysis 03.08.2013

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

To be added to Ilya's e-mail distribution list, please CLICK HERE

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.