16 Jun 2015
GBP/JPY back to test highs at 193.00
FXStreet (Barranquilla) - The British Pound bounced at the 192.00 area against the Japanese Yen and after jumping back 100 pips, the GBP/JPY is now testing highs around 193.00. Pair is heading north following the gains in the GBP/USD.
Currently, GBP/JPY is trading at 192.80, up 0.14% on the day, having posted a daily high at 193.17 and low at 192.07. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is also neutral.
GBP/JPY Forecast
Jameel Ahmad from FXTM commented in the GBP/JPY Forecast Poll that he is "impressed that this pair has continue to consolidate around its multi-year highs and yet to show any signs of fatigue." Ahmad considers that an "aggressive GBP selling would be required for a pullback."
In the long term picture, Darren Sinden from Admiral Markets affirms that "despite Kuraoda comments we still expect yen weakness to be a feature this summer."
GBP/JPY Levels
If the pair consolidates levels around 193.00, it will find resistances at 193.15, 193.35 and 193.60. To the downside, supports are at 192.00, 191.70 and 191.40.
Currently, GBP/JPY is trading at 192.80, up 0.14% on the day, having posted a daily high at 193.17 and low at 192.07. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is also neutral.
GBP/JPY Forecast
Jameel Ahmad from FXTM commented in the GBP/JPY Forecast Poll that he is "impressed that this pair has continue to consolidate around its multi-year highs and yet to show any signs of fatigue." Ahmad considers that an "aggressive GBP selling would be required for a pullback."
In the long term picture, Darren Sinden from Admiral Markets affirms that "despite Kuraoda comments we still expect yen weakness to be a feature this summer."
GBP/JPY Levels
If the pair consolidates levels around 193.00, it will find resistances at 193.15, 193.35 and 193.60. To the downside, supports are at 192.00, 191.70 and 191.40.