U.S. Markets close in 1 min.

GBP/JPY Technical Analysis 05.13.2013

Ilya Spivak

GBP/JPY Technical Analysis- Prices are testing resistance at 156.72, the 76.4% Fibonacci expansion. A break above that aims for the 100% level at 159.90. Near-term support is at 154.75, the 61.8% Fib, with a reversal back beneath that eyeing the 50% expansion at 153.15.

Forex_GBPJPY_Technical_Analysis_05.10.2013_body_Picture_5.png, GBP/JPY Technical Analysis 05.13.2013

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.