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6 Aug 2013
GBP/JPY offered below 151
FXstreet.com (Barcelona) - The GBP/JPY foreign exchange cross rate is last trading at fresh session lows 150.88, printed on the back of Yen strength, off recent double weekly high at 151.57, highest since July 26.
GBP/JPY flat for now
The cross is currently below the 50 DMA at 151.20 having a little descending slope, trading in range since early April. “Not much to trade w prices midrange and steadying,” said IFRMarkets analysts, adding: “Flat for now awaiting a retest/break of July 24-Aug 1 wides.” GBP/JPY is down -0.26% so far for the week, while still up +8.46% year to date.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at July 26 lows 150.71, followed by early London session weekly lows at 150.30, and July 17/29 lows at 149.95/91. To the upside, closest resistance shows at mentioned recent weekly highs 151.57, followed by July 17 highs/July 19 lows at 152.09/12, and July 22/23 lows at 152.32.
GBP/JPY flat for now
The cross is currently below the 50 DMA at 151.20 having a little descending slope, trading in range since early April. “Not much to trade w prices midrange and steadying,” said IFRMarkets analysts, adding: “Flat for now awaiting a retest/break of July 24-Aug 1 wides.” GBP/JPY is down -0.26% so far for the week, while still up +8.46% year to date.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at July 26 lows 150.71, followed by early London session weekly lows at 150.30, and July 17/29 lows at 149.95/91. To the upside, closest resistance shows at mentioned recent weekly highs 151.57, followed by July 17 highs/July 19 lows at 152.09/12, and July 22/23 lows at 152.32.