GBP/JPY Technical Analysis- Prices are testing resistance at 153.85, the April 11 swing high. A break above that targets the 61.8% Fibonacci expansion at 156.32. 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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE