26 Sep 2013
GBP/JPY fails to maintain 158.50 levels; still at 4-yr.highs; H&S on its way?
FXstreet.com (Chicago) - GBP/JPY reached 158.50 highs but failed to maintain the front to retrace to 158.20 zone. The pair took off from 158.24 session lows (triple bottoms with September 18th and September 23rd) and stalls close to 158.30.
Thursday at last
The pound continues leading performance among currency pairs and maintains 4-year altitudes against the yen. Ahead of National and Tokyo CPI indexes along in Japan and the UK’s GBP results, the pair extends parallel movement above the upward trendline from last year’s August.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 158.25 and oscillates between the supports aligned at 157.96 (September 13th highs), 157.47 (September 17th lows) ahead of 156.91 (September 15th lows) and the resistances set at 158.51 (September 22nd lows), 159.50 (September 20th highs) followed by 160 (September 18th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and remains above the EMA20.
Thursday at last
The pound continues leading performance among currency pairs and maintains 4-year altitudes against the yen. Ahead of National and Tokyo CPI indexes along in Japan and the UK’s GBP results, the pair extends parallel movement above the upward trendline from last year’s August.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 158.25 and oscillates between the supports aligned at 157.96 (September 13th highs), 157.47 (September 17th lows) ahead of 156.91 (September 15th lows) and the resistances set at 158.51 (September 22nd lows), 159.50 (September 20th highs) followed by 160 (September 18th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and remains above the EMA20.