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GBP/JPY Technical Analysis 03.08.2013

Ilya Spivak

GBP/JPY Technical Analysis- Prices are testing above resistance at 142.88, the 50% Fibonacci retracement, eyeing the 61.8% level 144.08. A break above that targets the 76.4% Fib at 145.56. Near-term support is at 141.69, the 38.2% level, with a move below that targeting the 23.6% retracement at 140.21.

Forex_GBPJPY_Technical_Analysis_03.08.2013_body_Picture_5.png, GBP/JPY Technical Analysis 03.08.2013

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

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