GBP/JPY Technical Analysis: Dojis May Mark Reversal

DailyFX

GBP/JPY Technical Analysis– Prices put in back-to-back Doji candlesticks below resistance in the 151.20-56 area marked by a horizontal pivot in play since late April and the 23.6% Fibonacci expansion, hinting a pullback may be ahead. Near-term support is at 147.09, the June 13 swing low.Alternatively, a break above resistance targets the 38.2% level at 154.33.

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dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: Dojis May Mark Reversal

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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