29 Oct 2013
GBP/JPY forges grounds around 156.80 zone
FXstreet.com (Chicago) - GBP/JPY experiences major bearish pressure after Tokyo’s opening and remains stuck around session lows, weekly bottoms.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 156.86 and navigates between the supports aligned at 156.64 (October 11th lows), 156.19 (October 6th highs) ahead of 155.47 (October 6th lows) and the resistances set at 157.15 (October 24th lows), 157.62 (October 15th highs) followed by 158 (October 26th highs). Primary and secondary trends point down confirming the extension of the bearish channel that started last October 22nd highs. According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 156.86 and navigates between the supports aligned at 156.64 (October 11th lows), 156.19 (October 6th highs) ahead of 155.47 (October 6th lows) and the resistances set at 157.15 (October 24th lows), 157.62 (October 15th highs) followed by 158 (October 26th highs). Primary and secondary trends point down confirming the extension of the bearish channel that started last October 22nd highs. According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.