6 Apr 2015
GBP/JPY retreats from 178.30
FXStreet (Córdoba) - GBP/JPY broke above 177.80 during the Asian session and gained momentum. On American hours printed a fresh high at 178.29 but then retreated. Currently is hovering around around 177.80/85, up 0.20% for the day.
GBP/JPY unable to break range
Despite rising on Monday the GBP/JPY remains limited below 178.50, moving sideways around 177.50. The key support is the area around 176.45/50 (March lows) a consolidation below could open the doors for a decline toward February lows that lie at 175.47.
On the upside, a confirmation above 178.50, could trigger a bullish run. The next important resistance could be located at 179.30 (Mar 23, Jan 26 highs).
GBP/JPY unable to break range
Despite rising on Monday the GBP/JPY remains limited below 178.50, moving sideways around 177.50. The key support is the area around 176.45/50 (March lows) a consolidation below could open the doors for a decline toward February lows that lie at 175.47.
On the upside, a confirmation above 178.50, could trigger a bullish run. The next important resistance could be located at 179.30 (Mar 23, Jan 26 highs).