Filed Under:
GBP/JPY Technical Analysis– Prices moved lower as expected after putting in back-to-back Doji candlesticks below resistance in the 151.20-56 area, marked by a horizontal pivot in play since late April and the 23.6% Fibonacci expansion.Near-term support is at 147.66, a horizontal pivot in play since mid-February. Alternatively, a reversal above 151.56 aims for the 38.2% Fib at 154.33.

dailyclassics_gbp-jpy_body_Picture_12.png, GBP/JPY Technical Analysis: Dojis Mark Turn LowerDaily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

comments powered by Disqus
Trading Center