GBP/JPY returns to low level

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


The GBP/JPY currency exchange rate eventually reached the support zone of the January 6 low and the December 31 high levels at 156.00/156.10. On Tuesday, a recovery was ongoing, as the pair reached above the 157.00 mark.

A continuation of the surge might encounter resistance in the 157.38/157.44 zone, which captures recent high levels. Above this zone, the January high level at 157.75 could stop a surge.

On the other hand, a decline of the pair would look for support in the 50-hour simple moving average at 156.80, the weekly simple pivot point at 156.60 and the 200-hour simple moving average near 156.40, before aiming at the 156.00/156.10 support zone.
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Tue, 11 Jan 2022 12:15:43 GMT

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