10 Feb 2014
GBP/JPY opens the week higher
FXStreet (Córdoba) - At the beginning of the week the GBP/JPY rose to 168.48 hitting the highest price since January 31 and retreated afterwards finding support at 167.90. Currently trades at 168.04, up 0.10% for the day, headed toward the third daily gain in a row.
GBP/JPY eyeing 169.00
According to Jim Langlands, from FX Charts the GBP/JPY is looking toward 169, but “is sitting on decent resistance right here (38.2% of 173.65/163.85) which will act as a hurdle, with the next Fibo level being at 169.35 (50% pivot).”
Langlands affirms that if the upside fails, the GBP/JPY could then look for a run down to the 200 HMA at 167.35, below which would see a move back to 166.50".
GBP/JPY eyeing 169.00
According to Jim Langlands, from FX Charts the GBP/JPY is looking toward 169, but “is sitting on decent resistance right here (38.2% of 173.65/163.85) which will act as a hurdle, with the next Fibo level being at 169.35 (50% pivot).”
Langlands affirms that if the upside fails, the GBP/JPY could then look for a run down to the 200 HMA at 167.35, below which would see a move back to 166.50".