Back
21 Apr 2014
GBP/JPY finds resistance at 172.50
FXStreet (Córdoba) - The GBP/JPY is rising moderately on Monday as it currently trades at 172.35, up 40 pips from Friday’s closing price. During the Asian session the Pound gained momentum against the Yen and rose above 172.00. On European hours peaked at 172.49, the highest level in two weeks and then pulled back slightly.
The area around 172.50 capped the upside but the pair is consolidating gains and is headed toward the highest daily close since April 2 and the sixth consecutive gain.
Level to watch for GBP/JPY
Above 172.50 the next resistance could be located at 173.15/20 (April 3 high) and then 173.60 while to the downside support comes at 172.15 (session low) and 171.75 (April 18 low).
The area around 172.50 capped the upside but the pair is consolidating gains and is headed toward the highest daily close since April 2 and the sixth consecutive gain.
Level to watch for GBP/JPY
Above 172.50 the next resistance could be located at 173.15/20 (April 3 high) and then 173.60 while to the downside support comes at 172.15 (session low) and 171.75 (April 18 low).