GBP/JPY remains near 163.50

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Source: Dukascopy Bank SA


Since Thursday, the GBP/JPY currency pair has been trading between the support zone at 162.25/162.60 and resistance at 163.95/164.25.

A move below the 162.25/162.60 zone would have no technical support as low as the weekly S1 simple pivot point at 160.10. Meanwhile, take into account that round exchange rate levels could slow down a decline.

On the other hand, a surge above 163.95/164.25 is expected to be slowed down by the 164.50 and 165.00 levels, before reaching the weekly R1 simple pivot point at 165.79.
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