17 Feb 2015
GBP/JPY back above 183.00, testing Friday’s highs
FXStreet (Córdoba) - GBP/JPY rose back above 183.00 and peaked recently at 183.32, reaching the strongest level since last Thursday.
Strong recovery
A weak yen, boosted the GBP/JPY pair that rose more than 150 pips from the lows. Yesterday the pair dropped from 182.70 to 181.50. During today’s Asian session it tested again the 181.50 support area but rebounded and since then it has been moving with an upside bias.
Currently the pair is attempting to break an important short term resistance located around 138.35, that capped the upside on Friday and on Monday. A break higher could open the doors for another rally.
Strong recovery
A weak yen, boosted the GBP/JPY pair that rose more than 150 pips from the lows. Yesterday the pair dropped from 182.70 to 181.50. During today’s Asian session it tested again the 181.50 support area but rebounded and since then it has been moving with an upside bias.
Currently the pair is attempting to break an important short term resistance located around 138.35, that capped the upside on Friday and on Monday. A break higher could open the doors for another rally.