GBP/JPY finds support in 153.00

Source: Dukascopy Bank SA


In the aftermath of the Bank of England bond purchase announcement, the GBP/JPY found support in the 153.00 level. The event was followed by a recovery, which by the middle of Thursday's trading had reached above 157.00.

A continuation of the surge is set to face major resistance in the 158.00 level, the weekly simple pivot point at 158.39, the 200-hour simple moving average, the 160.00 level and the 159.10/160.55 range. Higher above, resistance could be found in the weekly S2 at 161.41 and the 162.00 level.

On the other hand, a decline might find support in the combination of the 156.00 level and the 50 and 100-hour simple moving averages. Further below, the 154.00 and 153.00 levels are capable of providing support.
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Thu, 29 Sep 2022 12:43:03 GMT

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