GBP/JPY Technical Analysis 04.03.2013

DailyFX

GBP/JPY Technical Analysis- Prices broke support at 141.84, the 50% Fibonacci retracement, exposing the 61.8% level at 140.89. A further push beneath that aims for the 76.4% Fib at 139.71. The 141.84 mark has been recast as near-term resistance. A reversal back above that aims for the 38.2% Fib at 142.79.

View photo

.
Forex_GBPJPY_Technical_Analysis_04.03.2013_body_Picture_5.png, GBP/JPY Technical Analysis 04.03.2013

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.

Rates

View Comments (0)