GBP/JPY Technical Analysis 02.15.2013
GBP/JPY Technical Analysis- Prices declined as expected after putting in a Bearish Engulfing candlestick pattern, taking out initial support at 144.70 marked by the 14.6% Fibonacci expansion. Sellers are now challenging the 23.6% level at 142.69, with a drop below that aiming for the 38.2% Fib at 139.44. The 144.70 threshold has been recast as near-term resistance.
Daily 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
Daily 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
Free Annual Reports
