GBP/JPY reaches above 162.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In the aftermath of the Jackson Hole symposium, the GBP/JPY currency pair has managed to surge above the 162.00 level. At mid-day on Monday, the rate reached above 162.00 and appeared to be heading to the 162.50 level and the weekly R1 simple pivot point at 162.61.

In the case of a surge above 162.60, the rate could encounter resistance in the upper trend line of a channel up pattern, which captures the rate's last week's volatility, and the 163.00 mark.

However, a decline of the Pound against the Japanese Yen might look for support in the 162.00 mark and the 200-hour simple moving average. Further below, take into account the weekly simple pivot point at 161.70 and the 50 and 100-hour simple moving averages.
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