12 Jan 2015
GBP/JPY rebounds and rises back above 180.00
FXStreet (Córdoba) - The yen dropped sharply across the board during the last three hours and pushed GBP/JPY back above 180.00.
GBP/JPY with support at 179.00
Earlier the pair bottomed at 179.01, reaching the lowest price since October 31 but then rebounded sharply, rising more than a hundred pips from the lows.
The pound climbed to 180.38, fresh daily high and it was trading at 180.25, up 0.25% for the day. The recovery brought the price back to the trading range that prevailed during the previous three trading days.
Resistance at 180.45 and below 181.00
To the upside, above daily highs, immediate resistance could be located at 180.45 and above around 181.00. Last Thursday and Friday the pair approached 181.00 but it was unable to break higher and pulled back after hitting 180.93.
GBP/JPY with support at 179.00
Earlier the pair bottomed at 179.01, reaching the lowest price since October 31 but then rebounded sharply, rising more than a hundred pips from the lows.
The pound climbed to 180.38, fresh daily high and it was trading at 180.25, up 0.25% for the day. The recovery brought the price back to the trading range that prevailed during the previous three trading days.
Resistance at 180.45 and below 181.00
To the upside, above daily highs, immediate resistance could be located at 180.45 and above around 181.00. Last Thursday and Friday the pair approached 181.00 but it was unable to break higher and pulled back after hitting 180.93.