24 Jan 2014
GBP/JPY finds support again at 171.30
FXstreet.com (Córdoba) - The GBP/JPY fell sharply on Thursday, erasing Wednesday's gains and finished barely below 172.00; amid risk aversion that triggered the demand for the Yen. Also the Pound was the worst performer among European currencies.
Early in Asia the GBP/JPY is being unable to break above 172.10 as Japanese stocks are set to open considerably lower.
GBP/JPY still eyeing key support
During the American session the pair tumbled and bottomed at 171.20 but bounced quickly and was able later to hold above 171.30. The mentioned level capped the downside on the previous two trading days. A consolidation below could trigger another decline in the GBP/JPY.
To the upside, immediate resistance lies at 172.10, 172.45/50 and above at 172.75 (yesterday's Asian session low).
Early in Asia the GBP/JPY is being unable to break above 172.10 as Japanese stocks are set to open considerably lower.
GBP/JPY still eyeing key support
During the American session the pair tumbled and bottomed at 171.20 but bounced quickly and was able later to hold above 171.30. The mentioned level capped the downside on the previous two trading days. A consolidation below could trigger another decline in the GBP/JPY.
To the upside, immediate resistance lies at 172.10, 172.45/50 and above at 172.75 (yesterday's Asian session low).