GBP/JPY approaches 154.00

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


The GBP/JPY currency exchange rate passed the resistance zone that surrounds the 153.00 mark on Friday. On Monday, the pair surged above the 153.50 mark and approached the 154.00 level. Meanwhile, it appeared at mid-day that the rate was finding resistance in the 153.95 level, where the weekly R1 simple pivot point was located at.

If the rate surges above the 154.00 level, it might aim at the 154.50 mark, which could be strengthened by the resistance line of the February high levels. Higher above, note the 154.89 level, where the weekly R2 simple pivot point was located at.

Meanwhile, the currency pair might decline, and a potential decline would look for support in the 152.90/153.20 zone. Below the zone, take into account the 50 and 200-hour simple moving averages near 152.80.
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