- GBP/JPY Technical Strategy: Flat
- Support: 172.39-64, 171.79, 170.64
- Resistance: 173.33, 174.01, 174.87
The British Pound pulled back after rebounding as expected against the
Japanese Yen, testing the upswing’s guiding trend line. A daily close
belowthe 172.39-64 area marked by a horizontal support shelf, a rising
trend line and the 50% Fibonacci expansion exposes the 23.6% level at
171.79. Alternatively, a reversal above the 50% Fib at 173.33 clears the
way for a challenge of the 61.8% expansion at 174.01.