GBP/JPY finds resistance at 153.00

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


On Thursday morning, the GBP/JPY currency exchange rate bounced off the 153.00 mark and the resistance zone, which surrounds this round exchange level.

If the Pound continues to decline against the Japanese Yen, the rate might look for support in the 50-hour simple moving average near 152.25, before approaching the 152.00 mark. The 152.00 level acted as resistance during this week's trading. Further below, note the 151.00 mark, which caused this week's surge.

However, a surge would have to pass the weekly simple pivot point at 152.87, the zone that surrounds the 150.00 mark and the 200-hour simple moving average. A move above these levels is highly likely going to find resistance in the 153.50 and 154.00 levels.
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