U.S. Markets closed

GBP/JPY Technical Analysis 05.28.2013

Ilya Spivak

GBP/JPY Technical Analysis- Prices are bouncing from support at 152.30, the 23.6% Fibonacci retracement. Near-term resistance is at 154.00, the 14.6% Fib, with a break above that eyeing the May 13 high at 156.77. Alternatively, a move below support targets the 38.2% level at 149.53.

Forex_GBPJPY_Technical_Analysis_05.28.2013_body_Picture_5.png, GBP/JPY Technical Analysis 05.28.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.