13 Feb 2014
GBP/JPY extends gains above 170.00
FXStreet (Córdoba) - The Pound continues to rally against the yen, early in Asia reached a fresh 2-week high above 170.00. On Wednesday the GBP/JPY rose more than a hundred pips and since February 4 has climbed 550 pips.
GBP/JPY rising above 170.00
After moving in ranges during yesterday’s Asian session, the GBP/JPY gained momentum after the release of the Inflation Report from the Bank of England and broke above 169.10. The pair peaked on American hours at 170.22 then pulled back, to finish the day hovering around 170.00. In Asia, ahead of Nikkei’s opening the GBP/JPY rose further and hit a new high at 170.44.
Levels to watch
To the upside immediate resistance lies at 170.40/45 (daily high), 170.90 and 171.45 (January 29 high). While to the downside, potential support levels are located at 169.75 (American session low), 169.50 and 169.05.
GBP/JPY rising above 170.00
After moving in ranges during yesterday’s Asian session, the GBP/JPY gained momentum after the release of the Inflation Report from the Bank of England and broke above 169.10. The pair peaked on American hours at 170.22 then pulled back, to finish the day hovering around 170.00. In Asia, ahead of Nikkei’s opening the GBP/JPY rose further and hit a new high at 170.44.
Levels to watch
To the upside immediate resistance lies at 170.40/45 (daily high), 170.90 and 171.45 (January 29 high). While to the downside, potential support levels are located at 169.75 (American session low), 169.50 and 169.05.