GBP/JPY trades at 157.50/159.00

Source: Dukascopy Bank SA


On Monday, the GBP/JPY currency exchange rate traded between the support of the 157.50 level and the 50-hour simple moving averages and resistance at 159.00/159.25.

A move below the 157.50 level could look for support near the 157.00 mark, prior to approaching the last week's low level zone at 155.60/156.00.

However, a potential surge might encounter resistance in the weekly simple pivot point at 158.72 and the 100-hour simple moving average. After passing above these levels, the 159.00/159.25 zone is set to act as resistance.
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