GBP/JPY Technical Analysis- Prices are testing support at 142.78, the 38.2% Fibonacci retracement. A break below that aims for the 50% level at 141.84. Near-term resistance falling trend line resistance is at 143.67, with a reversal above that initially targeting the 23.6% retracement at 143.96.

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

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