GBP/JPY breaks resistance line

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


On Wednesday morning, the GBP/JPY passed the resistance of the February high level connecting trend line. In addition, it initially appeared that the 154.50 mark had started to act as support.

A continuation of the surge of the rate might stop at the weekly R2 simple pivot point at 154.89, before approaching the 155.00 mark. Higher above, note the March high level zone at 155.20/155.25.

Meanwhile, a decline would look for support in the 154.50 mark, the 50-hour simple moving average and the weekly R1 simple pivot point at 153.95.

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