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GBP/JPY Technical Analysis 04.10.2013

Ilya Spivak

GBP/JPY Technical Analysis- Prices are testing resistance at 152.44, the 150% Fibonacci expansion. A break above that initially eyes the 161.8% mark at 153.39. Near-term support is at 151.49, the 138.2% Fib, with a reversal back beneath that exposing 123.6% expansion at 150.31.

Forex_GBPJPY_Technical_Analysis_04.10.2013_body_Picture_5.png, GBP/JPY Technical Analysis 04.10.2013

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

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