GBP/JPY reaches new monthly high

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


The GBP/JPY currency exchange rate has passed the previous February high level zone. However, the event did not result in a large surge, as the pair stopped at the 156.75 level. Since the event, the rate has been fluctuating around the 156.50 mark in the 156.30/156.75 zone.

A resumption of the surge of the Pound against the Yen could find resistance in the 156.81 level where the weekly R1 simple pivot point is located at. Higher above, take into account the 157.00 and 157.50 round levels. Meanwhile, above the round price levels, the most close by technical resistance was the weekly R2 simple pivot point at 157.72.

However, a decline of the rate is expected to look for support in the 50-hour simple moving average near 156.15, before reaching the 156.00 mark. Note that the 156.00 level acted as support during the first half of Tuesday's trading.
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