18 May 2015
GBP/JPY consolidates around 187.70
FXStreet (Córdoba) - GBP/JPY continued to moved sideways on Monday, as it has been doing since last Wednesday, unable to hold above 188.00 but finding support on top of 187.00.
Last week the pair rose to 188.61, reaching the strongest level since the beginning of the year but lost bullish momentum.
During the last hour it has been steady hovering around 187.70/80, the same level it closed on Friday. The decline of GBP/USD below 1.5700 was offset by a rally of USD/JPY toward 120.00.
GBP/JPY technical levels
From current levels, resistance could be seen at 188.30 (daily high), 188.60/65 (May 13, 15 high) and 189.00. On the opposite direction support might be located at 187.25 (daily low), 186.70 (May 12 low) and 186.05/10 (May 8 high).
Last week the pair rose to 188.61, reaching the strongest level since the beginning of the year but lost bullish momentum.
During the last hour it has been steady hovering around 187.70/80, the same level it closed on Friday. The decline of GBP/USD below 1.5700 was offset by a rally of USD/JPY toward 120.00.
GBP/JPY technical levels
From current levels, resistance could be seen at 188.30 (daily high), 188.60/65 (May 13, 15 high) and 189.00. On the opposite direction support might be located at 187.25 (daily low), 186.70 (May 12 low) and 186.05/10 (May 8 high).