Forex: GBP/JPY Technical Analysis – Buyers Aiming Above 171.00
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Talking Points
Prices overturned a bearish Three Inside Down candle pattern, breaking the 170 figure
Resistance is now at 171.70 (38.2% Fib exp.); above that targets 173.29 (50% Fib)
Negative RSI divergence still warns of a turn lower ahead; support at 169.74 (23.6% Fib)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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