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GBP/JPY Technical Analysis 05.27.2013

Ilya Spivak

GBP/JPY Technical Analysis- Prices are testing below support at 152.30, the 23.6% Fibonacci retracement, with a break downward on a daily closing basis exposing the 38.2% level at 149.53. Near-term resistance is at 154.00, the 14.6% Fib, followed by May 13 high at 156.77.

Forex_GBPJPY_Technical_Analysis_05.27.2013_body_Picture_5.png, GBP/JPY Technical Analysis 05.27.2013

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

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