GBP/JPY posts highest weekly close since October 2008

FXStreet (Córdoba) - The GBP/JPY finished flat on Friday, after pulling back from 5-month highs, trading around 173.60/70. Earlier on Friday the pair peaked at 174.10 but failed to hold above 174.00 and pulled back.

Cable rose for the third week in a row against the Yen and posted the highest weekly close since October 2008, when the global financial crisis was at it worst moment.

GBP/JPY technical outlook

After rallying during 2013 the pair stabilized during the first half of 2014, moving sideways around 171.00. The long term trend is still bullish and the GBP/JPY is approaching last year highs located near 175.00, attempting to resume the bullish trend.

Jun 20, 2014

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