GBP/JPY tests 155.50 mark

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


On Thursday morning, the GBP/JPY currency exchange rate approached the 155.50 mark and began to test its resistance. Previously, on Wednesday, the 155.50 level stopped the rate's surge.

In the case that the 155.50 level is properly passed, the pair could aim at the 156.00 level. Meanwhile, take into account that there are no technical levels providing resistance as high as the weekly R2 simple pivot point at 156.18.

On the other hand, a decline of the Pound against the Japanese Yen could look for support in the weekly R1 simple pivot point at 155.33, the 50-hour simple moving average near 155.10 and the lower trend line of the channel up pattern, which captures the pair's surge since January 24.
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