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15 Nov 2013
GBP/JPY, 4-year highs reached
FXstreet.com (Chicago) - GBP/JPY continues edging higher consolidating a spike to 4-year highs ahead of Tokyo’s opening. No Asian data is expected during this session.
Despite weaker than expected data released in the UK earlier today, the pair continues pushing higher reaching zones not seen in 4 years extending the bullish channel that started after the flag manifested two days ago.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 160.75 and oscillates between the supports aligned at 160 (October 2nd highs), 159.20 (November 7th highs) ahead of 158.31 (October 27th highs) and the resistances set at 160.86 (November 12th highs), 162.67 (July 19th 2009 highs) followed y 1.s6566 (August 17th 2009 lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis oscillating above the EMA20.
Despite weaker than expected data released in the UK earlier today, the pair continues pushing higher reaching zones not seen in 4 years extending the bullish channel that started after the flag manifested two days ago.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 160.75 and oscillates between the supports aligned at 160 (October 2nd highs), 159.20 (November 7th highs) ahead of 158.31 (October 27th highs) and the resistances set at 160.86 (November 12th highs), 162.67 (July 19th 2009 highs) followed y 1.s6566 (August 17th 2009 lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis oscillating above the EMA20.