9 May 2014
GBP/JPY falls to 171.20
FXStreet (Córdoba) - The GBP/JPY fell on Friday to 171.20, the lowest price since April 16 and then bounced to the upside trimming losses. Currently trades at 171.55, down 0.32% for the day. Cable is falling for the second day in a row against the Yen and has turned negative for the week.
Recently the pair found support where last week lows lie, around 171.20. The mentioned area has become an important short term support; below the next one comes at 171.00 and then 170.50.
To the upside resistance could be located at 171.70/80 (May 5, 8 low) and above here at 172.30 and then 172.90/173.00. During the current week the GBP/JPY approached 173.00 but it was unable to trade above.
Recently the pair found support where last week lows lie, around 171.20. The mentioned area has become an important short term support; below the next one comes at 171.00 and then 170.50.
To the upside resistance could be located at 171.70/80 (May 5, 8 low) and above here at 172.30 and then 172.90/173.00. During the current week the GBP/JPY approached 173.00 but it was unable to trade above.