GBP/JPY passes low level zone

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


The GBP/JPY currency rate shortly reached below the January low level zone at 152.90/153.15. However, afterwards the pair retraced back up and confirmed the zone at 153.38/153.48 as resistance. The zone captures the February low levels.

If the Pound declines against the Japanese Yen and clearly passes below the 152.90/153.15 zone, the rate might look for support in the 152.50, 152.00 and 151.50 levels. Note that the most close by technical support was the weekly S2 simple pivot point at 151.50.

Meanwhile, a recovery of the GBP/USD would have to break the resistance of the 153.38/153.48 zone and the 153.50 mark, before approaching the 50-hour simple moving average near 153.90 and the 154.00 level.
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Wed, 02 Mar 2022 09:56:17 GMT

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