GBP/JPY Technical Analysis- Prices are testing resistance at 146.55, the 38.2% Fibonacci expansion. A break above that targets the 50% level at 148.81. Near-term support is at 143.77, the 23.6% level, with a reversal back below that aiming for the January 23 low at 139.24.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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