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Forex: GBP/JPY Technical Analysis – Pound Rejected Sub-155.00

Ilya Spivak

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GBP/JPY Technical Analysis – Prices recoiled from resistance at 154.33, the 38.2% Fibonacci expansion, with the pair now retesting support marked by the 23.6% level at 151.56. A break below that targets a rising channel bottom at 149.77. Alternatively, a move above 154.33 eyes the channel top at 154.98.

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dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Pound Rejected Sub-155.00

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

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