U.S. Markets open in 1 hr 30 mins

Forex: GBP/JPY Technical Analysis – Critical Support Near 157.00

Ilya Spivak


To receive Ilya's analysis directly via email, please SIGN UP HERE


Talking Points


  • Prices are testing support in the 156.73-157.06 area (trend line from Aug, 23.6% Fib)
  • Break lower targets 155.25, the 38.2% Fibonacci retracement
  • Near-term resistance is in the 159.52-98 area, marked by recent swing highs


Confirm your chart-based trade setups with the Technical Analyzer.


dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Critical Support Near 157.00

Daily Chart - Created Using FXCM Marketscope 2.0




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


Contact and follow Ilya on Twitter: @IlyaSpivak


New to FX? START HERE


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.