14 Aug 2015
GBP/JPY ends week higher but still below key 195.00
FXStreet (Córdoba) - The pound rose sharply on Monday and Tuesday and then consolidated gains against the yen. GBP/JPY posted the highest close since March supported by the pound that was among the best performers of the week.
GBP/JPY outlook
Since late June the pair traded momentarily above 194.00 several times but it was unable to make a weekly close on top. Today is finally consolidating above but the road to the upside faces another strong resistance located around 195.00, that capped the April-June rally.
The trend and momentum favors the pound and also the long term trend. Currently the pair is consolidating, after finding resistance near 195.00. While to eh downside, the area around 189.00 – 190.00 has been a key support, limiting bearish corrections.
GBP/JPY outlook
Since late June the pair traded momentarily above 194.00 several times but it was unable to make a weekly close on top. Today is finally consolidating above but the road to the upside faces another strong resistance located around 195.00, that capped the April-June rally.
The trend and momentum favors the pound and also the long term trend. Currently the pair is consolidating, after finding resistance near 195.00. While to eh downside, the area around 189.00 – 190.00 has been a key support, limiting bearish corrections.