13 May 2014
GBP/JPY hovering around 172.00
FXStreet (Córdoba) - After rising in the previous two trading days, the GBP/JPY finished lower on Tuesday on the back of a stronger US dollar against European currencies. The pair peaked during the Asian session at 172.73 but then lost momentum and pulled back.
After Wall Street opening bottomed at 171.90, but then bounced to the upside but the recovery was capped by 172.20 and currently is trading around 172.00, still 40 pips above the price it opened on Monday.
GBP/JPY range continues
In the short term the pair still holds some downside momentum but on a wider perspective continues to move sideways around 172.00, facing strong resistance at 173.50, and with support above 171.00.
After Wall Street opening bottomed at 171.90, but then bounced to the upside but the recovery was capped by 172.20 and currently is trading around 172.00, still 40 pips above the price it opened on Monday.
GBP/JPY range continues
In the short term the pair still holds some downside momentum but on a wider perspective continues to move sideways around 172.00, facing strong resistance at 173.50, and with support above 171.00.