19 Sep 2013
GBP/JPY testing multi-year highs above 158.50
FXstreet.com (Barcelona) - The GBP/JPY foreign exchange cross rate is currently breaking higher into fresh 4-year highs last at 158.76 mostly on the back of recently Yen weakness, marginally higher than previous Sept 11 highs, up +0.67% for the week so far.
GBP/JPY suggests to continue higher
“Price currently breaking above bull flag seen in recent days,” said IFRMarkets analyst Richard Sexton, adding: “Lack of resistance seen above suggests price to continue higher. Next level to watch is at 2009 high at 163 - plenty of room to move.”
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at mentioned previous Sept fresh 4-year highs 158.66, followed by Tuesday's highs at 158.17, and past Friday's highs at 157.99 To the upside, closest resistance shows at recent session fresh 4-year highs 158.79, followed by July 2009 highs and Nov 2008 highs at 161.69.
GBP/JPY suggests to continue higher
“Price currently breaking above bull flag seen in recent days,” said IFRMarkets analyst Richard Sexton, adding: “Lack of resistance seen above suggests price to continue higher. Next level to watch is at 2009 high at 163 - plenty of room to move.”
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at mentioned previous Sept fresh 4-year highs 158.66, followed by Tuesday's highs at 158.17, and past Friday's highs at 157.99 To the upside, closest resistance shows at recent session fresh 4-year highs 158.79, followed by July 2009 highs and Nov 2008 highs at 161.69.