GBP/JPY reveals resistance

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


The GBP/JPY currency pair has revealed that it faces resistance in the 166.00/166.30 range. On Friday morning, the pair bounced off the zone and passed below 165.00.

An extension of the decline of the Pound against the Japanese Yen might look for support in the 164.50 mark and the 100-hour simple moving average. Further below, note the weekly R3 simple pivot point at 164.13, the 164.00 level and the 163.55/163.90 zone.

In the meantime, a resumption of the Japanese Yen's decline could result on the GBP/JPY charts in a test of the 50-hour SMA near 165.50 and the 166.00/166.30 range.
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