GBP/JPY unable to break above 170.80

FXstreet.com (San Francisco) - After testing the 170.80 resistance several times, the GBP/JPY has been rejected again with the pair trading now at 170.65. The pair remains moving sideways in a small range in between 170.60 and 170.80.

The GBP/JPY is currently trading at 170.65, 0.28% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart. MACD, CCI and Momentum are pointing to the north while the stochastic is bearish.

Above the 170.80 area, next resistances are at 171.00 and 171.20. On the downside, supports are at 170.60, 170.15 and 167.75.