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GBP/JPY Technical Analysis: Fib Barrier Contains Rally

Ilya Spivak

GBP/JPY Technical Analysis– Prices are recovering to challenge resistance is the 151.20-56 area marked by a horizontal pivot in play since late April and the 23.6% Fibonacci expansion A break above that targets the 38.2% level at 154.33. Near-term support is at 147.09, the June 13 swing low.

dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: Fib Barrier Contains Rally

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

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