GBP/JPY tests resistance zone near 161.25

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


Since the early hours of Friday's trading, the GBP/JPY currency exchange rate was testing the resistance of the 161.15/161.28 zone. Meanwhile, support was provided by the 200 and 50-hour simple moving averages near 160.50 and 160.75.

A potential decline of the pair would have to pass the support of the 200-hour simple moving average near 160.75. Below the 200-hour SMA, take into account the 50-hour SMA and the trend line, which connects the recent low levels, near the 160.50 mark.

Meanwhile, a surge above the 161.15/161.28 zone is expected to face the combined resistance of the weekly simple pivot point at 161.48, the 161.50 mark and the trend line of the recent high levels.
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