21 Nov 2013
GBP/JPY stretches to 161.57 peaks; 161.65 target?
FXstreet.com (Chicago) - GBP/JPY Japanese data and the strengthening of the Nikkei contribute to the rally the pair is living at the moment reprinting new highs for a 161.60 target.
In England, the BoE took a decision maintaining the votes unchanged and fueling market participants to recover earlier losses on jump that extends after the reversal from 160.80 session lows.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 161.47 and oscillates between the supports aligned at 161.15 (November 14th highs), 160 (September 29th highs) ahead of 159.20 (November 12th highs) and the resistances set at 161.65 (triple tops, November 20th highs), 162.67 (May 15th highs 2009) followed by 165.40 (October 10th highs 2008). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is strongly bearish and presents a neutral EMA20.
In England, the BoE took a decision maintaining the votes unchanged and fueling market participants to recover earlier losses on jump that extends after the reversal from 160.80 session lows.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 161.47 and oscillates between the supports aligned at 161.15 (November 14th highs), 160 (September 29th highs) ahead of 159.20 (November 12th highs) and the resistances set at 161.65 (triple tops, November 20th highs), 162.67 (May 15th highs 2009) followed by 165.40 (October 10th highs 2008). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is strongly bearish and presents a neutral EMA20.