GBP/JPY Technical Analysis 04.01.2013

Ilya Spivak

GBP/JPY Technical Analysis- Prices are testing support at 142.78, the 38.2% Fibonacci retracement. A break below that aims for the 50% level at 141.84. Near-term resistance falling trend line resistance is at 143.67, with a reversal above that initially targeting the 23.6% retracement at 143.96.

Forex_GBPJPY_Technical_Analysis_04.01.2013_body_Picture_5.png, GBP/JPY Technical Analysis 04.01.2013
Forex_GBPJPY_Technical_Analysis_04.01.2013_body_Picture_5.png, GBP/JPY Technical Analysis 04.01.2013

Daily Chart - Created Using FXCM Marketscope 2.0

Want to back-test your technical trading strategy? Download the historical data here.

--- 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.