GBP/JPY extends recovery

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


On Friday morning, the GBP/JPY currency exchange rate passed the resistance of the 50-hour simple moving average near 156.90. However, instead of surging, the pair started to fluctuate around the moving average.

In the case of a decline, the pair is expected to look for minor support in the 156.50 mark, before aiming at the 156.00 mark. The 156.00 level has acted both as support and resistance during the first week of trading of 2022. Note that the rate has been ignoring the weekly R1 simple pivot point at 156.73

However, a move above 157.00 might aim at the weekly R2 simple pivot point at 157.80. Afterwards, the 2021 high level at 158.23 could be tested.
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Fri, 07 Jan 2022 11:19:33 GMT

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