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Forex Analysis: GBP/JPY Classic Technical Report 01.03.2013

Ilya Spivak

Prices are pulling back from resistance at 142.00, the 50% Fibonacci expansion. Near-term support is at 140.54, the 38.2% level, with a break below that targeting the 23.6% expansionat 138.75. Alternatively, a reversal above resistance aims for the 61.8% mark at 143.40.

Forex_Analysis_GBPJPY_Classic_Technical_Report_01.03.2013_body_Picture_1.png, Forex Analysis: GBP/JPY Classic Technical Report 01.03.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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

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