GBP/JPY Technical Analysis- Prices are reversing lower from resistance at 154.00, the 14.6% Fibonacci retracement, to test the 23.6% level at 152.30. A break below that targets the 38.2% Fib at 149.53. Alternatively, a move above resistance aims for the May 13 high at 156.77.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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