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3 Jun 2014
GBP/JPY finds support at 171.30
FXStreet (Córdoba) - The GBP/JPY printed a fresh daily high on European hours at 171.81, reaching levels not seen since April 27. Afterwards weakened and pulled back, finding support at 171.30. From there bounced to the upside.
Since the beginning of the American session the GBP/JPY has been moving in a range between 171.65 and 171.35, slightly higher for the day.
GBP/JPY back near key resistance
Cable is rising for the third day in a row against the Japanese currency and has approached a key resistance area. During the second half of May, the pair was unable to rise above 172.00; every time it approached there lost momentum. A break higher could pushed Cable further to the upside.
To the downside immediate support lies at 171.30 (intraday low) and then 171.00 followed by 170.70.
Since the beginning of the American session the GBP/JPY has been moving in a range between 171.65 and 171.35, slightly higher for the day.
GBP/JPY back near key resistance
Cable is rising for the third day in a row against the Japanese currency and has approached a key resistance area. During the second half of May, the pair was unable to rise above 172.00; every time it approached there lost momentum. A break higher could pushed Cable further to the upside.
To the downside immediate support lies at 171.30 (intraday low) and then 171.00 followed by 170.70.