GBP/JPY recovers after finding support

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


The decline, which was caused by the UK PMI data release, found support in the 158.00 mark. The event was followed by a recovery up tot he resistance of the weekly simple pivot point at 159.65. During Wednesday's early European trading hours, the pair bounced off the resistance zone and appeared to be heading lower.

The decline of the GBP/JPY could look for support in the 158.50 and 158.00 levels, before the 157.50 mark and the weekly S1 simple pivot point are reached.

However, a surge of the Pound against the Japanese Yen would have to pass above the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point in the 159.40/159.75 range.
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Wed, 25 May 2022 10:14:39 GMT

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