1 Jul 2013
GBP/JPY's rejection finds support at 151.50
FXstreet.com (San Francisco) - After being rejected by the 152.05 area in the American morning and falling around 50 pips, the GBP/JPY seems to have found support at 151.50, where the pair has bounced to trade back at 151.70.
Currently, the GBP/JPY is trading at 151.65, still 0.50% positive on the day. However, the short term perspective is strongly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
Below the 151.50, next supports are at 151.35, 151.15 and 150.50. On the upside, above the 152.00 area, the next reistances are at 152.20, 152.40 and 153.50.
Currently, the GBP/JPY is trading at 151.65, still 0.50% positive on the day. However, the short term perspective is strongly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
Below the 151.50, next supports are at 151.35, 151.15 and 150.50. On the upside, above the 152.00 area, the next reistances are at 152.20, 152.40 and 153.50.