GBP/JPY approaches February low level

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


At mid-day on Friday, the GBP/JPY currency exchange rate's decline was approaching the support of the February low level at 152.67. At the time of analysis, it appeared that the support is set to fail.

A continuation of the decline of the Pound against the Japanese Yen could look for support in the 152.50 and 152.00 levels, before approaching the weekly S2 simple pivot point at 151.50.

On the other hand, a recovery of the British currency against the Yen might face resistance in the February low at 152.67, the zone that surrounds the 153.00 mark, the 153.50 and 154.00 levels. Namely, there are a lot of technical levels above the pair, but no technical support.
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