18 Feb 2015
GBP/JPY might soon see a trend reversal – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team shares the key technical levels and the outlook for GBP/JPY.
Key Quotes
“After the GBP was able to appreciate versus the JPY in the beginning of September 2014, the currency pair returned to its low which it already has reached in spring. At this level the bulls took control over the pair and we saw a sharp appreciation of the GBP versus the JPY.”
“After a downward movement the pair is now heading towards the resistance at 189.60.”
“At the moment however, the pair is still traded between the resistance of 189.60 and the support of 176.10 and according the indicators we may soon see a trend reversal.”
“Support Levels around 176.10, 171.96, 170.71”
“Resistance Levels around 189.60”
Key Quotes
“After the GBP was able to appreciate versus the JPY in the beginning of September 2014, the currency pair returned to its low which it already has reached in spring. At this level the bulls took control over the pair and we saw a sharp appreciation of the GBP versus the JPY.”
“After a downward movement the pair is now heading towards the resistance at 189.60.”
“At the moment however, the pair is still traded between the resistance of 189.60 and the support of 176.10 and according the indicators we may soon see a trend reversal.”
“Support Levels around 176.10, 171.96, 170.71”
“Resistance Levels around 189.60”