U.S. Markets closed

Forex Analysis: GBP/JPY Classic Technical Report 01.10.2013

Ilya Spivak

Prices are edging lower as expected after putting in a Bearish Engulfing candlestick pattern. Near-term support is at 138.60, the 23.6% Fibonacci retracement, with a break below that targeting the 38.2% level at 136.13. Near-term resistance is at 142.60, the January 2 high.


Forex_Analysis_GBPJPY_Classic_Technical_Report_01.10.2013_body_Picture_1.png, Forex Analysis: GBP/JPY Classic Technical Report 01.10.2013

Daily 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.