22 Aug 2013
GBP/JPY breaks ceiling reaching 154.00 zone
FXstreet.com (Chicago) - GBP/JPY extends rally to accumulate 1.02% weekly gains from which 0.68% were pocketed today.
Bullish sentiment, poised to breakout?
Wall Street closed with gains, following Europe’s tempo. Price action indicates the pair is poised for breakout as it surpassed 153.78 June and July highs to trade at 153.98 after small retracement from 154.04 intraday highs. On the upside, immediate resistance at 153.95 (session highs) has been violated with a price now facing 154.21 (June 7th highs) followed by 154.64 (May 28th highs). On the downside, supports are aligned at 153.63 (August 21st highs), 153.33 (July 17th highs) ahead of 153.00 (July 26th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.
Bullish sentiment, poised to breakout?
Wall Street closed with gains, following Europe’s tempo. Price action indicates the pair is poised for breakout as it surpassed 153.78 June and July highs to trade at 153.98 after small retracement from 154.04 intraday highs. On the upside, immediate resistance at 153.95 (session highs) has been violated with a price now facing 154.21 (June 7th highs) followed by 154.64 (May 28th highs). On the downside, supports are aligned at 153.63 (August 21st highs), 153.33 (July 17th highs) ahead of 153.00 (July 26th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.