25 Mar 2014
GBP/JPY rejected above 169.00
FXStreet (Córdoba) - The GBP/JPY ended flat on Monday trading around 168.60. Price rose to 169.43, hitting the highest price since last Thursday but it was rejected from those levels and retreated back under 169.00.
Technical outlook for the GBP/JPY
The pair continues to move within a range in the short-term, moving sideways. On a wider perspective, some bearish pressure is still seen. To the downside immediate support levels could be located at 168.30 (March 24 low), 167.70/80 (last week lows) and 166.90.
To the upside, price has been unable to post a significant close above 169.00. Resistance levels could be seen at 169.70 (last week highs) and 170.50.
Technical outlook for the GBP/JPY
The pair continues to move within a range in the short-term, moving sideways. On a wider perspective, some bearish pressure is still seen. To the downside immediate support levels could be located at 168.30 (March 24 low), 167.70/80 (last week lows) and 166.90.
To the upside, price has been unable to post a significant close above 169.00. Resistance levels could be seen at 169.70 (last week highs) and 170.50.