22 Aug 2013
GBP/JPY edging higher; 153.20 zone maintained
FXstreet.com (Chicago) - GBP/JPY continues advancing after highly volatile price movements sending the pair above 153.60 zone momentarily prior to the closing of the Japanese trading session.
Extending yesterday’s rally, the pound continues to trade strong against a weaker yen post foreign bond and stocks investment data made public in the country. One hour away from the closing, the Nikkei fell back to account for 0.58% losses so far after an earlier recovery above 0.09%.
At 153.27, the pair oscillates between supports at 153.00 (July 2nd highs), 152.75 (July 26th highs) ahead of 152.46 (July 22nd lows) and resistances at 153.33 (July 18th highs), 153.63 (August 21st highs) followed by 153.84 (July 25th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis despite 0.23% daily gains and a current price trading above the EMA20.
Extending yesterday’s rally, the pound continues to trade strong against a weaker yen post foreign bond and stocks investment data made public in the country. One hour away from the closing, the Nikkei fell back to account for 0.58% losses so far after an earlier recovery above 0.09%.
At 153.27, the pair oscillates between supports at 153.00 (July 2nd highs), 152.75 (July 26th highs) ahead of 152.46 (July 22nd lows) and resistances at 153.33 (July 18th highs), 153.63 (August 21st highs) followed by 153.84 (July 25th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis despite 0.23% daily gains and a current price trading above the EMA20.