GBP/JPY reaches above 156.00

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


On Tuesday morning, the GBP/JPY currency exchange rate passed the resistance of the 156.00 mark. By the middle of the day's European trading hours, the rate was aiming at the weekly R1 simple pivot point at 156.73.

A move above the weekly R1 simple pivot point might find resistance in the 157.00 mark. Higher above, the 157.50 could act as resistance. Both of these round exchange rate levels acted as resistance in November. Above the round levels, note the weekly R2 simple pivot point at 157.80.

However, a decline of the GBP against the Japanese Yen is expected to look for support in the 156.00 mark, before aiming at the 50-hour SMA near 155.70 and the last week's support zone at 155.00.
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