17 Aug 2015
GBP/JPY again rejected from above 195.00
FXStreet (Córdoba) - GBP/JPY rose above 195.00 during the Asian session but again it was unable to rally and failed to hold. The mentioned area continues to limit the upside.
GBP/JPY losses gains
The pair weakened during the European session and erased gains as it continued to decline and on American hours fell below 194.00. Recently reached at 193.75 the lowest level since last Thursday. Below support levels could be located at 193.65 (August 13 low) and 193.40 (August 12 low) and 193.10 (August 6 low).
Despite falling Monday the pair still holds a bullish tone but it needs to make a clear break of 195.00 – 195.20 in order to clear the way from more gains. So far the correction has been limited. The daily 20-SMA lies at 193.40, a close below could increase the likelihood of a bearish correction.
GBP/JPY losses gains
The pair weakened during the European session and erased gains as it continued to decline and on American hours fell below 194.00. Recently reached at 193.75 the lowest level since last Thursday. Below support levels could be located at 193.65 (August 13 low) and 193.40 (August 12 low) and 193.10 (August 6 low).
Despite falling Monday the pair still holds a bullish tone but it needs to make a clear break of 195.00 – 195.20 in order to clear the way from more gains. So far the correction has been limited. The daily 20-SMA lies at 193.40, a close below could increase the likelihood of a bearish correction.