GBP/JPY trades around 162.00

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Source: Dukascopy Bank SA


Since the start of Wednesday's trading hours, the GBP/JPY currency exchange rate has been trading around the 162.00 mark. The range of volatility has been marked, as resistance and support can be observed. Support is found at 161.43/161.52 and resistance is located at 162.25/162.29.

If the rate surges above the 162.30 level, the 162.50 and 162.75 levels might act as resistance, before new high levels are booked.

On the other hand a decline below 161.40 might immediately find support in the 161.17/161.30 zone and the 200-hour simple moving average. Further below, note the 160.50 level, which acted as support during the previous week.
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