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20 Sep 2013
GBP/JPY cracks down to 159.06 lows
FXstreet.com (Chicago) - GBP/JPY was pressed to session lows at 159.06 shortly after the closing of Wall Street. Maintaining the 159.00 zone, the pair prints lower highs and lows ahead of GDP data in the UK due next week.
GBP/JPY Technical Levels
Price action reveals a pair that failed to maintain the upward trendline originating last August 27th after dipping below it yesterday on dollar’s recovery movement post FOMC and Fed’s “no tapering” results. With primary and secondary trendlines pointing up, the pair holds on to 159.00 and trades at 159.08. On the downside, supports are aligned at 158.51 (September 10th highs), 157.98 (September 13th highs) ahead of 157.47 (September 17th lows) and for the upside, resistances are set at 159.50 (September 18th highs), 159.93 (session highs) followed by 160.31 (May 24th 2009 highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered above the EMA20.
GBP/JPY Technical Levels
Price action reveals a pair that failed to maintain the upward trendline originating last August 27th after dipping below it yesterday on dollar’s recovery movement post FOMC and Fed’s “no tapering” results. With primary and secondary trendlines pointing up, the pair holds on to 159.00 and trades at 159.08. On the downside, supports are aligned at 158.51 (September 10th highs), 157.98 (September 13th highs) ahead of 157.47 (September 17th lows) and for the upside, resistances are set at 159.50 (September 18th highs), 159.93 (session highs) followed by 160.31 (May 24th 2009 highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered above the EMA20.