18 Jul 2014
GBP/JPY ends weekly slightly lower
FXStreet (Córdoba) - The GBP/JPY bottomed on Friday at 172.64 hitting the lowest price in two weeks but during the American session bounced to the upside trimming losses.
Price rose back above 173.00 but the recovery found resistance at 173.30 and finished the week trading at 173.15, 35 pips below where it was last week.
GBP/JPY second weekly decline after reversing
On Tuesday price jumped to 174.52, then consolidated and on Thursday turned sharply to the downside, erasing gains and moving away from July highs. It was the second weekly decline in a row for the GBP/JPY, but price still holds above the 172.50, that is an important support.
Price rose back above 173.00 but the recovery found resistance at 173.30 and finished the week trading at 173.15, 35 pips below where it was last week.
GBP/JPY second weekly decline after reversing
On Tuesday price jumped to 174.52, then consolidated and on Thursday turned sharply to the downside, erasing gains and moving away from July highs. It was the second weekly decline in a row for the GBP/JPY, but price still holds above the 172.50, that is an important support.