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Forex: GBP/JPY Technical Analysis – Familiar Trend Line Tested

Ilya Spivak


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Talking Points


  • Prices are testing support at 157.67 (trend line from Aug)
  • Break lower targets 157.06 (23.6% Fib retracement)
  • Resistance at 159.44 (38.2% Fib exp.); above that eyes 160.90 (50% Fib exp.)


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


dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Familiar Trend Line Tested

Daily Chart - Created Using FXCM Marketscope 2.0




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


Contact and follow Ilya on Twitter: @IlyaSpivak


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