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Forex pairs in this Article » GBP/JPY
Prices are edging lower as expected after putting in a Bearish Engulfing candlestick pattern. Near-term support is at 138.60, the 23.6% Fibonacci retracement, with a break below that targeting the 38.2% level at 136.13. Near-term resistance is at 142.60, the January 2 high.

Forex_Analysis_GBPJPY_Classic_Technical_Report_01.09.2013_body_Picture_5.png, Forex Analysis: GBP/JPY Classic Technical Report 01.09.2013 Daily Chart - Created Using FXCM Marketscope 2.0

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

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