31 Jul 2013
GBP/JPY breaks below 150 to fresh 2-week lows
FXstreet.com (Barcelona) - The GBP/JPY foreign exchange cross rate is last trading at 149.40, off recent session highs at 149.54, once the cross has stalled the decline during late NY trading posting fresh 2-week lows at 149.17 printed mostly on the back of Pound weakness.
GBP/JPY downisde risk to extend
According to the FXMarketAlerts Team the “Three successive days of strong decline is now threatening the daily support line with negative cross-over seen on daily MACD. Only swing above Monday's high of 151.28 will fade current downside risk,” the team added. GBP/JPY is down -1.15% so far for the week.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at mentioned fresh 2-week lows 149.17, followed by July 11 lows at 148.87, and July 10 lows at 148.76. To the upside, closest resistance shows at current levels as July 05/12 lows 149.40/46, followed by June 21/25-July 16 lows at 149.64/71/76, and yesterday's lows at 149.99.
GBP/JPY downisde risk to extend
According to the FXMarketAlerts Team the “Three successive days of strong decline is now threatening the daily support line with negative cross-over seen on daily MACD. Only swing above Monday's high of 151.28 will fade current downside risk,” the team added. GBP/JPY is down -1.15% so far for the week.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at mentioned fresh 2-week lows 149.17, followed by July 11 lows at 148.87, and July 10 lows at 148.76. To the upside, closest resistance shows at current levels as July 05/12 lows 149.40/46, followed by June 21/25-July 16 lows at 149.64/71/76, and yesterday's lows at 149.99.