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GBP/JPY Technical Analysis 05.29.2013

Ilya Spivak

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.

Forex_GBPJPY_Technical_Analysis_05.29.2013_body_Picture_5.png, GBP/JPY Technical Analysis 05.29.2013

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

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