21 Aug 2013
GBP/JPY range bound around 152.50
FXstreet.com (Barcelona) - The GBP/JPY foreign exchange cross rate is last trading at 152.50 off recent session highs at 152.65 once it has recovered from early London fresh weekly lows printed at 151.71 on the back of Yen strength and broad USD weakness.
GBP/JPY easing upside pressure
“Intraday weakness below 152.22 support is easing upside pressure with risk for current weakness to extend to 151.79 then 151.50/20,” said the FXMarketAlerts Team, adding: “Only swift move above 153.58 resistance to help bulls regain footing and target next hurdle at 154.05.” The GBP/JPY cross is totally flat for the week so far.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at Monday's lows 152.20, followed by Friday's lows at 151.80, and mentioned fresh weekly lows at 151.71. To the upside, closest resistance shows at mentioned recent session highs 152.65, followed by yesterday's Asian session/Thursday's highs at 153.12/29, and Monday's fresh 3-week highs at 153.60.
GBP/JPY easing upside pressure
“Intraday weakness below 152.22 support is easing upside pressure with risk for current weakness to extend to 151.79 then 151.50/20,” said the FXMarketAlerts Team, adding: “Only swift move above 153.58 resistance to help bulls regain footing and target next hurdle at 154.05.” The GBP/JPY cross is totally flat for the week so far.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at Monday's lows 152.20, followed by Friday's lows at 151.80, and mentioned fresh weekly lows at 151.71. To the upside, closest resistance shows at mentioned recent session highs 152.65, followed by yesterday's Asian session/Thursday's highs at 153.12/29, and Monday's fresh 3-week highs at 153.60.