GBP/JPY decline reaches below 162.00

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


On Friday morning, the GBP/JPY currency pair shortly traded below the 162.00 level, prior to returning to trade back above it during the second half of the day.

If the Pound recovers its lost value against the Japanese Yen, the rate could encounter resistance in the 163.00 and 163.50 levels, before approaching the 50, 100 and 200-hour simple moving averages near 164.00 and the weekly simple pivot point at 164.18.

However, an extension of the pair's decline might find support in the 162.00 and 161.50 levels. Further below note the 161.00 level and the weekly S2 simple pivot point at 160.94.
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