5 May 2014
GBP/JPY back above 172.00
FXStreet (Córdoba) - The GBP/JPY bottomed on Monday at 171.76, the lowest price in a week and then during the American session bounced to the upside and trimmed losses. Cable rose back above 172.00 but the recovery was capped around 172.30, where European session highs also lie.
The area around 172.30 is the immediate resistance level to consider, then followed by 172.62 and 172.95. To the downside support might be located at 171.80 and below here at 171.40 and 171.25.
Cable is retreating on Monday after reaching 8-week highs last Friday at 173.46 against the Yen, but at a slow pace as market volume remain low on a quiet session.
The area around 172.30 is the immediate resistance level to consider, then followed by 172.62 and 172.95. To the downside support might be located at 171.80 and below here at 171.40 and 171.25.
Cable is retreating on Monday after reaching 8-week highs last Friday at 173.46 against the Yen, but at a slow pace as market volume remain low on a quiet session.