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17 Dec 2013
GBP/JPY flat around 168.00
FXstreet.com (Córdoba) - The GBP/JPY is moving with an upside bias in the short-term supported by Asian stocks that are rising with the Nikkei up 1.01%. The pair rose from 167.70 (American session low) and recently climbed above 168.00.
At the moment of trading is rising marginally from Monday's closing price, trading at daily highs at 168.05/10. At the beginning of the week, the pair posted a moderate daily decline. The Pound was the worst performer among European currencies.
GBP/JPY technical perspective
After finding support around 167.50 the Pound bounce back to the upside but is still facing downside pressure after being unable to break the 168.40 line. Immediate support lies at 167.70 and below at 167.30 (Dec 16 low) and 166.85. To the upside, resistance might lie at 168.15 and above at 168.45 and 169.00.
At the moment of trading is rising marginally from Monday's closing price, trading at daily highs at 168.05/10. At the beginning of the week, the pair posted a moderate daily decline. The Pound was the worst performer among European currencies.
GBP/JPY technical perspective
After finding support around 167.50 the Pound bounce back to the upside but is still facing downside pressure after being unable to break the 168.40 line. Immediate support lies at 167.70 and below at 167.30 (Dec 16 low) and 166.85. To the upside, resistance might lie at 168.15 and above at 168.45 and 169.00.