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GBP/JPY Technical Analysis 04.03.2013

Ilya Spivak

GBP/JPY Technical Analysis- Prices broke support at 141.84, the 50% Fibonacci retracement, exposing the 61.8% level at 140.89. A further push beneath that aims for the 76.4% Fib at 139.71. The 141.84 mark has been recast as near-term resistance. A reversal back above that aims for the 38.2% Fib at 142.79.

Forex_GBPJPY_Technical_Analysis_04.03.2013_body_Picture_5.png, GBP/JPY Technical Analysis 04.03.2013

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

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