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17 Apr 2014
GBP/JPY breaks below 171.60
FXStreet (Córdoba) - The GBP/JPY rose after the beginning of the Asian session to 172.00 but lost momentum as the Yen strengthened across the board and pulled back. After breaking below an important intraday support at 171.60 fell to 171.46, reaching a fresh daily low.
Currently the GBP/JPY trades at 171.55/60, down 0.08% for the day. Despite falling on Thursday the Pound is still headed toward a weekly gains of more than 200 pips.
GBP/JPY bullish, but sideways in bigger time frames
The pair is correcting lower after rising for three consecutive days, breaking important short term resistances. The bias continues to point to the upside but in a wider perspective, the direction is not clear with price making higher lows and lower highs since January.
Currently the GBP/JPY trades at 171.55/60, down 0.08% for the day. Despite falling on Thursday the Pound is still headed toward a weekly gains of more than 200 pips.
GBP/JPY bullish, but sideways in bigger time frames
The pair is correcting lower after rising for three consecutive days, breaking important short term resistances. The bias continues to point to the upside but in a wider perspective, the direction is not clear with price making higher lows and lower highs since January.