OctaFX | OctaFX Forex Broker
Open trading account

Forex: GBP/JPY flat for the week near multi-year highs above 156.00

FXstreet.com (Barcelona) - GBP/JPY is last at 156.09, about flat for the week so far. The cross has been unable of breaking above fresh almost 4-year Monday's high at 156.85 in this time period, given Pound weakness overall until overnight's London session.

The cross is now off recent session highs at 156.50, same highs as of day before, with the lower bound of these two days range at 155.36. Both currencies, Pound and Yen, have been with about same strength in last 2 trading days, right below the USD, and thus the range. GBP/JPY is up +12.22% year to date, and +21.96% in last 6 months.

Immediate resistance to the upside for GBP/JPY shows at recent session/yesterday's highs 156.52, followed by Monday's fresh near 4-year highs at 156.85, and early Aug 2009 lows at 158.15. To the downside, closest support lies at yesterday's Asian session/Wednesday's lows 155.36, followed by Tuesday's weekly lows at 154.97, and May 05 highs at 154.79.

Flash: EUR/USD may be on the verge of sharper falls - TDS

The broader trend in the big US dollar remains geared towards more strength, says Shaun Osborne, chief FX strategist at TD Securities.
Read more Previous

AUD/USD continues to plummet, posts lowest daily close since June 6th, 2012

The Aussie suffered another day of steep declines, closing down 92 pips at 0.9821 (lowest close since early June 2012).
Read more Next
Start livechat