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18 Mar 2014
GBP/JPY posts first daily gain in a week
FXStreet (Córdoba) - The GBP/JPY finished on Monday around 169.30, 60 pips above Friday’s closing price, posting the first daily gain in a week. The decline of the Yen across the board favored the upside. Risk appetite weakened the demand for the japanese currency. Early in Asia the pair remains steady, hovering at 169.30/35.
Technical levels to watch for the GBP/JPY
The pair holds a bullish bias in the short-term, but still faces some pressure on a wider view. To the upside immediate resistance lies at 169.60 (March 17 high) and above here at 170.20 and 170.70/80.
Support levels lie at 169.10 (rising hourly uptrend line) and below here at 168.50/60 and 167.90 (March 14 low).
Technical levels to watch for the GBP/JPY
The pair holds a bullish bias in the short-term, but still faces some pressure on a wider view. To the upside immediate resistance lies at 169.60 (March 17 high) and above here at 170.20 and 170.70/80.
Support levels lie at 169.10 (rising hourly uptrend line) and below here at 168.50/60 and 167.90 (March 14 low).