GBP/JPY declines below 160.00

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


The GBP/JPY currency exchange rate has failed to find support in the support zone above 160.00. However, on Tuesday morning, the pair found enough support in the 159.50 level to start a recovery. By the middle of the day, the rate had reached back above 160.00.

If the Pound continues to gain value against the Japanese Yen, resistance might be found in the 50-hour simple moving average and the 50-hour simple moving average near 161.00. Higher above, note the 161.50 and 162.00 levels.

In the case of a decline of the currency pair below the 159.50 level, the 159.00 level could slow down a decline to the 158.50 mark and the weekly S2 simple pivot point at 158.56.
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