23 Jul 2015
GBP/JPY fails to break 194.00, drops below 193.00
FXStreet (Córdoba) - GBP/JPY rose during the Asian session to test an important short term resistance area located around 194.00 but it failed to break higher, lost momentum and then accelerated to the downside after economic data from the United Kingdom.
Recently dropped further and printed a fresh daily low at 192.78. The pair remains near the lows, as the pound continues under pressure in the market with GBP/USD testing weekly lows.
GBP/JPY levels to watch
To the upside immediate resistance lies at 193.45 and then the key 194.00 area; a break higher could boost the pair for further gains and to test July highs that lie at 194.35/40.
Currently the pair is testing the 192.75/80 area, below, support might lie at 192.45 and then attention would turn to 192.25 (July 22 low).
Recently dropped further and printed a fresh daily low at 192.78. The pair remains near the lows, as the pound continues under pressure in the market with GBP/USD testing weekly lows.
GBP/JPY levels to watch
To the upside immediate resistance lies at 193.45 and then the key 194.00 area; a break higher could boost the pair for further gains and to test July highs that lie at 194.35/40.
Currently the pair is testing the 192.75/80 area, below, support might lie at 192.45 and then attention would turn to 192.25 (July 22 low).