22 Jul 2013
GBP/JPY facing key resistance below 154
FXstreet.com (Barcelona) - The GBP/JPY foreign exchange cross rate is last trading at 153.45, off recent session lows at 152.87, printed on the back of Yen strength, and slightly in the negative for the week so far.
GBP/JPY bullish while above 152
Following Japan PM Abe win in the upper house, Yen has spiked to as high as 100.09 against USD, taking with it all Yen crosses, including the GBP one. According to the FXMarketAlerts Team, “Hold up around 152 now is bullish for run at 154.50 and then 156.”
GBP/JPY key technical levels
Immediate resistance to the upside for GBP/JPY shows at Friday's highs 153.77, followed by June 04 highs at 153.83, and May 31/June 11 highs at 154.26/8. To the downside, closest support lies at recent session lows 152.87, followed by Friday's lows/Wed's highs at 152.15, and July 09 highs at 151.63.
GBP/JPY bullish while above 152
Following Japan PM Abe win in the upper house, Yen has spiked to as high as 100.09 against USD, taking with it all Yen crosses, including the GBP one. According to the FXMarketAlerts Team, “Hold up around 152 now is bullish for run at 154.50 and then 156.”
GBP/JPY key technical levels
Immediate resistance to the upside for GBP/JPY shows at Friday's highs 153.77, followed by June 04 highs at 153.83, and May 31/June 11 highs at 154.26/8. To the downside, closest support lies at recent session lows 152.87, followed by Friday's lows/Wed's highs at 152.15, and July 09 highs at 151.63.