23 Aug 2013
GBP/JPY climbs above 154.10 for the 1st time since early June
FXstreet.com (Barcelona) - The GBP/JPY foreign exchange cross rate is last trading at 152.14 bids, off recent session highs at 154.26 printed on the back of massive Yen weakness despite Pound weakness as well, reaching the highest level since early June.
GBP/JPY trend to remain intact
According to IFRMarkets analysts “Our objective met at 153.75, Bolli's continue to stay wide indicating possible increasing volatility ahead. Look for trend to remain intact as the 10-DMA rises. Daily momentum positive as Stoch's and RSI bullish. Look to buy dips near 153.00 target a move back to may hi's near 156.50. Close below 10-DMA signals trend reversal.”
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at Wednesday's highs 153.69, followed by Monday's highs at 153.56, and August 15 highs at 153.32. To the upside, closest resistance shows at mentioned fresh almost 2-month highs 154.26, followed by May 28 highs at 154.73, and May 20 lows at 154.86.
GBP/JPY trend to remain intact
According to IFRMarkets analysts “Our objective met at 153.75, Bolli's continue to stay wide indicating possible increasing volatility ahead. Look for trend to remain intact as the 10-DMA rises. Daily momentum positive as Stoch's and RSI bullish. Look to buy dips near 153.00 target a move back to may hi's near 156.50. Close below 10-DMA signals trend reversal.”
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at Wednesday's highs 153.69, followed by Monday's highs at 153.56, and August 15 highs at 153.32. To the upside, closest resistance shows at mentioned fresh almost 2-month highs 154.26, followed by May 28 highs at 154.73, and May 20 lows at 154.86.