25 Apr 2014
GBP/JPY falls again but holds above 171.30
FXStreet (Córdoba) - The GBP/JPY is falling on Friday for the third day in a row but it was able to hold above previous weekly lows. The pair trades at the moment at 171.56, down 0.17% for the day and 35 pips below last Friday closing price.
Technical outlook for the GBP/JPY
Cable lost momentum against the Yen after approaching 173.00 and then pulled back. Since Wednesday’s American session the GBP/JPY has been trading in a range with support at 171.35 and resistance around the 172.00/20 zone.
A break higher could expose 173.00 while to the downside below 171.35, the pair could accelerate to the downside, and would trade at the lowest level since April 15.
Technical outlook for the GBP/JPY
Cable lost momentum against the Yen after approaching 173.00 and then pulled back. Since Wednesday’s American session the GBP/JPY has been trading in a range with support at 171.35 and resistance around the 172.00/20 zone.
A break higher could expose 173.00 while to the downside below 171.35, the pair could accelerate to the downside, and would trade at the lowest level since April 15.