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GBP/JPY Technical Analysis: 150.00 Figure in Focus

Ilya Spivak

GBP/JPY Technical Analysis– Prices are testing axis line support at 149.67, a barrier reinforced by the 38.2% Fibonacci retracementat 149.53, with a break below that eyeing the 50% level at 147.31. Near-term resistance is at 152.30, the 23.6% Fib. A push above that exposes the 14.6% retracement at the 154.00 figure.

dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: 150.00 Figure in Focus

Daily Chart - Created Using FXCM Marketscope 2.0

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

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