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28 Jan 2014
GBP/JPY stabilizes above 169.90
FXstreet.com (Córdoba) - The GBP/JPY is moving in ranges early in Asia, with support at 169.90 and resistance at 170.40. At the moment of writing the pair is approaching the upside limit of the range as stocks in Japan turned positive. After a negative opening, the Nikkei 225 is now up 0.39%, weakening the Yen across the board.
Technical levels to watch for the GBP/JPY
To the upside immediate resistance lies at Monday's highs at 170.55 and above at 170.85 and 171.55. In the short-term momentum favors the upside but if the price falls below 169.45 (recent American session low) it could lose steam. Below immediate support could be located at 169.00, 168.55 and 167.75 (January 27 high).
Technical levels to watch for the GBP/JPY
To the upside immediate resistance lies at Monday's highs at 170.55 and above at 170.85 and 171.55. In the short-term momentum favors the upside but if the price falls below 169.45 (recent American session low) it could lose steam. Below immediate support could be located at 169.00, 168.55 and 167.75 (January 27 high).