U.S. Markets closed

Forex Analysis: GBP/JPY Classic Technical Report 01.14.2013

Ilya Spivak

Prices took out resistance at 144.03, the 38.2% Fibonacci expansion, exposing the 145.00 figure and the 50% level at 145.45. Negative RSI divergence warns of ebbing bullish momentum however, hinting a reversal lower may be ahead. A turn back below 144.03 targets the 23.6% Fib at 142.25.


Forex_Analysis_GBPJPY_Classic_Technical_Report_01.14.2013_body_Picture_1.png, Forex Analysis: GBP/JPY Classic Technical Report 01.14.2013

4hr Chart - Created Using FXCM Marketscope 2.0




--- 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.