24 Jun 2013
GBP/JPY testing the 151.00 barrier
FXstreet.com (New York) - The GBP/JPY technical cross has retraced off of a trough that saw the pair trading in the depths of 150.12 (intraday low) Monday earlier today during European trading.
GBP/JPY thrust does not breach resistance
After thrusting ahead nearly 100 pips off its lows, the GBP/JPY is now operating at 151.04, up a healthy +0.27% thus far. Technically speaking, Mataf.net analysts identify the next short-term measures of resistance at 152.24 then 153.17, and 154.42. Meanwhile, support lies below at 150.06, onto 148.81 and 147.88.
GBP/JPY confirmation of upside needed at resistance
According to the Technical Analyst Team at ICN.com, “The GBP/JPY bounced last week, after testing the key ascending support around 147.90 level. Moreover, the pair extended the rebound towards the 50-day SMA and the descending resistance for the latest bearish correctional wave. Accordingly, a confirmation of further upside is needed now, and will be by breaking the aforementioned resistance levels around 152.25-152.500 area.”
GBP/JPY thrust does not breach resistance
After thrusting ahead nearly 100 pips off its lows, the GBP/JPY is now operating at 151.04, up a healthy +0.27% thus far. Technically speaking, Mataf.net analysts identify the next short-term measures of resistance at 152.24 then 153.17, and 154.42. Meanwhile, support lies below at 150.06, onto 148.81 and 147.88.
GBP/JPY confirmation of upside needed at resistance
According to the Technical Analyst Team at ICN.com, “The GBP/JPY bounced last week, after testing the key ascending support around 147.90 level. Moreover, the pair extended the rebound towards the 50-day SMA and the descending resistance for the latest bearish correctional wave. Accordingly, a confirmation of further upside is needed now, and will be by breaking the aforementioned resistance levels around 152.25-152.500 area.”