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2 Jun 2014
GBP/JPY climbs to 171.60
FXStreet (Córdoba) - A weak Yen pushed the GBP/JPY to the upside, reaching a daily high at 171.61, the strongest level since May 27. The pair pulled back in the last hour of Wall Street trading, closing at 171.50, the highest in a week.
Last week bottomed at 169.54 and on Friday turned to the upside. On Monday opened above 170.50 and gained momentum during the European session and extended gains on American hours.
Levels to watch for GBP/JPY
If it continues to rise, it could face resistance around 171.90 - 172.00 where last week highs lies; then, the next could be located at 172.35.
Support levels might lie at 171.25 (May 22, 27 low) followed by 171.00 and then 170.45 (daily low).
Last week bottomed at 169.54 and on Friday turned to the upside. On Monday opened above 170.50 and gained momentum during the European session and extended gains on American hours.
Levels to watch for GBP/JPY
If it continues to rise, it could face resistance around 171.90 - 172.00 where last week highs lies; then, the next could be located at 172.35.
Support levels might lie at 171.25 (May 22, 27 low) followed by 171.00 and then 170.45 (daily low).