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Forex Analysis: GBP/JPY Classic Technical Report 12.31.2012

Ilya Spivak

Prices broke resistance at 138.75, the 23.6% Fibonacci expansion, exposing the 38.2% level at 140.54. A further push higher above that eyes the 50% Fib at 142.00. The 138.75 mark has been recast as near-term support. A reversal back below that aims for the 14.6% expansionat 137.66.

Forex_Analysis_GBPJPY_Classic_Technical_Report_12.31.2012_body_Picture_1.png, Forex Analysis: GBP/JPY Classic Technical Report 12.31.2012

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

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