GBP/JPY reaches above 161.00

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


On Friday morning, the GBP/JPY currency exchange rate passed above the 161.00 mark, which had kept the rate down on Wednesday and Thursday. However, the pair almost immediately found resistance in the 161.25 level. Meanwhile, it was spotted that the 200-hour simple moving average and the 160.50 level had acted as support.

If the Pound continues to recover against the Japanese Yen, the currency pair would have to pass the 161.25 level, before testing the resistance of round exchange rate levels at 161.50, 162.00 and 162.50. Above these levels, note the resistance of the 162.75 level and teh weekly R1 simple pivot point at 162.93

On the other hand, a decline of the pair is set to look for support at 160.50 where the 200-hour simple moving average is located at. Further below, take into account the 50-hour simple moving average near 160.20 and the 159.50 level. Meanwhile, the 160.00 level has not been observed to be acting neither as support or resistance.
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