6 May 2014
GBP/JPY pulls back toward 172.30 and trims gains
FXStreet (Córdoba) - The GPB/JPY rose during the European session to 172.94 reaching the highest price since last Friday but then lost momentum as the Yen gained strength in the market and pulled back trimming gains.
The retreated from the highs found support above 172.30 and currently trades at 172.45, up 0.10% for the day; rising for the second day in a row, recovering further after falling on Monday to 171.76.
GBP/JPY still capped by 173.00
The GBP/JPY made a strong reversal last week from 173.46, falling more than 150 pips. Despite trading several times since April above 173.00, the pair was never able to consolidate above.
During today’s trading the GBP/JPY lost momentum near the mentioned level and pulled back but still holds a bullish tone in four hour charts.
The retreated from the highs found support above 172.30 and currently trades at 172.45, up 0.10% for the day; rising for the second day in a row, recovering further after falling on Monday to 171.76.
GBP/JPY still capped by 173.00
The GBP/JPY made a strong reversal last week from 173.46, falling more than 150 pips. Despite trading several times since April above 173.00, the pair was never able to consolidate above.
During today’s trading the GBP/JPY lost momentum near the mentioned level and pulled back but still holds a bullish tone in four hour charts.