GBP/JPY manifests double-tops pattern on 161.65 limits

FXstreet.com (Chicago) - GBP/JPY prints a double-tops pattern with last November 17th highs around the 165.65 front. Navigating 4 and a half year highs, the pair struggles to consolidate above 161.40 after retracement.

GBP/JPY Technical Levels

Technically speaking, the pair is offered at 161.41 and oscillates between the supports aligned at 161.15 (November 12th highs), 160 (September 30th highs) ahead of 159.20 (November 14th highs) and the resistances set at 161.65 (November 15th highs), 162.67 (July 26th highs 2009) followed by 165.40 (November 18th highs 2008). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.

Nov 20, 2013

AUD/USD spikes on Bernanke, finds offers ahead of 0.9450

AUD/USD has been able to make a marginal new high at 0.9445 before sellers stepped in to pull back prices towards 0.9430, with potential retest of 0.9420 support in sight.

AUD/JPY: breakout of 94.30 on daily may allow 95.00 jackpot

AUD/JPY retained its bullish momentum in early Tokyo, with the rate expanding higher towards 94.50 only to face with some heavy offers - mainly driven by retracement on the Nikkei - which has cost the pair a pullback in the tune of 20 pips to session lows of 94.35, yet the sense is that this market has now shifted into 'buy dips' mode.