GBP/JPY Technical Analysis 04.29.2013


GBP/JPY Technical Analysis- Prices put in a Bearish Engulfing candlestick pattern below resistance at 153.85, the April 11 swing high, hinting a move lower is ahead. Near-term support is at 150.07, the 23.6% Fib retracement, with a drop beneath that eyeing the 38.2% level at 147.73. Alternatively, a break above that targets the 61.8% Fibonacci expansion at 156.32 (not shown).

View photo

Forex_GBPJPY_Technical_Analysis_04.29.2013_body_Picture_5.png, GBP/JPY Technical Analysis 04.29.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail 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.

View Comments (0)