GBP/JPY Technical Analysis – Prices recovered above resistance at 150.05, the 38.2% Fibonacci retracement, exposing the 50% level at 150.81 as the next upside threshold. A push beyond that aims for the 61.8% Fib at 151.57. Alternatively, a move back below 150.05 eyes the 23.6% retracement at 149.11.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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