4 Jul 2013
GBP/JPY selling off below 152.50
FXstreet.com (Barcelona) - The GBP/JPY foreign exchange cross rate is currently selling off to fresh session lows at 152.40 from session highs at 152.91, down -0.25% mostly on the back of Yen strength across the board.
GBP/JPY facing resistance in the 152.70 region
According to IFR Markets analyst the cross is facing “dual resistance from the 78.6% fib and 50 day MA in the 152.70 region.” Currently long, IFR Markets will be checking this level so in case it fades again from there to exit the trade.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at recent session lows 152.27, followed by Monday's/June 20 highs at 152.11/151.99, and June 24 highs 151.74. To the upside, closest resistance shows at recent NY session/fresh 3-week highs 153.00, followed by June 06 highs at 153.60, and June 04 highs at 153.86.
GBP/JPY facing resistance in the 152.70 region
According to IFR Markets analyst the cross is facing “dual resistance from the 78.6% fib and 50 day MA in the 152.70 region.” Currently long, IFR Markets will be checking this level so in case it fades again from there to exit the trade.
GBP/JPY key technical levels
Immediate support to the downside for GBP/JPY lies at recent session lows 152.27, followed by Monday's/June 20 highs at 152.11/151.99, and June 24 highs 151.74. To the upside, closest resistance shows at recent NY session/fresh 3-week highs 153.00, followed by June 06 highs at 153.60, and June 04 highs at 153.86.