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GBP/JPY Technical Analysis 04.12.2013

Ilya Spivak

GBP/JPY Technical Analysis- Prices are pulling back from resistance at 153.39, the 161.8% Fibonacci expansion. Initial support is at 152.44, the 50% level, with a break below that targeting the 138.2% Fibat 151.49. Alternatively, a move above resistance aims for the 176.4% expansion at 154.56.

Forex_GBPJPY_Technical_Analysis_04.12.2013_body_Picture_5.png, GBP/JPY Technical Analysis 04.12.2013

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

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