27 Nov 2013
GBP/JPY finds offers at 164.90
FXstreet.com (Barcelona) - Following an early spike topping out at 164.68 high, the GBP/JPY is currently retracing daily gains towards 164.65, as the uptrend still gives little signs of a reversal in the horizon.
Ichimoku indicators points to further gains
Technically, the breakout of 163.00 ( double top 2009) has opened up blue skies for the interest of the Sterling, as price continues to develop on bullish ichimoku structures across all timeframes.
GBP/JPY technical levels
The pause seen throughout Tuesday saw bearish pressure being well absorbed by 163.80/90 bids, which led to a recovery of prices with an acceleration included after intrday range highs at 164.20/30 were broken today. On the upside, immediate resistance is found at 164.90/165.00 ahead of trend highs. On the downside, 164.30 is new support ahead of 163.80/90.
Ichimoku indicators points to further gains
Technically, the breakout of 163.00 ( double top 2009) has opened up blue skies for the interest of the Sterling, as price continues to develop on bullish ichimoku structures across all timeframes.
GBP/JPY technical levels
The pause seen throughout Tuesday saw bearish pressure being well absorbed by 163.80/90 bids, which led to a recovery of prices with an acceleration included after intrday range highs at 164.20/30 were broken today. On the upside, immediate resistance is found at 164.90/165.00 ahead of trend highs. On the downside, 164.30 is new support ahead of 163.80/90.