GBP/JPY Technical Analysis – Prices vaulted sharply higher, pushing through the 38.2% and 50% Fibonacci expansions to test the 61.8% level (151.88). A break above that targets the 76.4% Fib at 152.89. The 50% level has been recast as near-term support.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE