25 Jul 2013
GBP/JPY capped below 154 fresh 5-week highs
FXstreet.com (Barcelona) - The GBP/JPY foreign exchange cross rate is last trading at 153.51 bids, off session lows at 153.35, retracing from fresh 5-week highs printed in early NY trade on Yen weakness following better than expected US new home sales data.
GBP/JPY settled into consolidation
“Intraday trade settled into consolidation and well confined within the 152.18-153.84 range and need a swift lift above the 153.84 hurdle to extend gain to 154.25 then 154.64,” said the FXMarketAlerts Team, adding: “Below 152.18 will jeopardise the 2-week upmove and shift focus lower to 151.62/37 supports.”
GBP/JPY key technical levels
Immediate resistance to the upside for GBP/JPY shows at current levels as Monday/Tuesday previous weekly highs 153.72, followed by early NY session fresh 5-week highs at 154.04, and June 10 highs at 154.23. To the downside, closest support lies at recent session lows/Friday's Asian session highs 153.38, followed by yesterday's lows at 152.72, and Monday's/Tuesday's weekly lows/July 17 highs at 152.30/12
GBP/JPY settled into consolidation
“Intraday trade settled into consolidation and well confined within the 152.18-153.84 range and need a swift lift above the 153.84 hurdle to extend gain to 154.25 then 154.64,” said the FXMarketAlerts Team, adding: “Below 152.18 will jeopardise the 2-week upmove and shift focus lower to 151.62/37 supports.”
GBP/JPY key technical levels
Immediate resistance to the upside for GBP/JPY shows at current levels as Monday/Tuesday previous weekly highs 153.72, followed by early NY session fresh 5-week highs at 154.04, and June 10 highs at 154.23. To the downside, closest support lies at recent session lows/Friday's Asian session highs 153.38, followed by yesterday's lows at 152.72, and Monday's/Tuesday's weekly lows/July 17 highs at 152.30/12