9 Mar 2015
GBP/JPY recovers from 3-week lows
FXStreet (Córdoba) - The pound is rising on Monday against the yen and managed to climb back above 182.00.
The GBP/JPY pair dropped last Friday to 181.46, reaching the lowest price since February 12 and posted the first weekly decline since mid January. Since the beginning of the day it is moving with a bullish bias and recently printed a fresh high at 182.63. Price remains near the highs as it continues to recover most of Friday’s losses.
GBP/JPY levels to watch
To the downside, on Friday the pair found support again at a key area located around 181.40/50, that also capped the declines four times during February; below the next strong support might lie at 180.00.
On the opposite direction resistance could be located at 182.85, 183.15 and 183.50 (Feb 26, 27 low).
The GBP/JPY pair dropped last Friday to 181.46, reaching the lowest price since February 12 and posted the first weekly decline since mid January. Since the beginning of the day it is moving with a bullish bias and recently printed a fresh high at 182.63. Price remains near the highs as it continues to recover most of Friday’s losses.
GBP/JPY levels to watch
To the downside, on Friday the pair found support again at a key area located around 181.40/50, that also capped the declines four times during February; below the next strong support might lie at 180.00.
On the opposite direction resistance could be located at 182.85, 183.15 and 183.50 (Feb 26, 27 low).