GBP/JPY reaches 162.00 level

Source: Dukascopy Bank SA


On Friday, the GBP/JPY currency pair surged to the 162.00 level. The round level acted as resistance and kept the pair down.

A move above the 162.00 level would face no technical resistance as high as the weekly R2 simple pivot point at 167.46. However, note that the round exchange rate levels in the five point range are highly likely going to slow down a potential surge.

On the other hand, a decline of the Pound against the Yen is set to look for support in the combination of the 50 and 200-hour simple moving averages and the weekly simple pivot point near 158.40. Further below, the 100-hour SMA and the 152.50/153.00 levels are expected to act as support.
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