GBP/JPY approaches low levels

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


The GBP/JPY made three attempts at passing the resistance of the 155.00 mark, which eventually all failed. Meanwhile, the 154.00 level was acting as support. At mid-day on Tuesday, the GBP/JPY rate passed below the 154.00 level.

If the decline of the Pound against the Japanese Yen continues, the rate could look for support in the 153.50 mark and the zone below it, which captures the February low levels. Further below, note the January low level zone that surrounds the 153.00 mark and the weekly S1 simple pivot point at 153.03.

However, a potential recovery of the GBP against the JPY would most likely encounter resistance in the 154.00 mark and the 154.50 level with the 50-hour simple moving average, before approaching the 155.00 level.
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