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GBP/JPY consolidating around key 178 handle

FXStreet (Guatemala) - GBP/JPY is trading at 177.98, down -0.05% on the day, having posted a daily high at 178.26 and low at 177.93.

GBP/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bearish. 178 is a level that has been holding up at the start of this week’s trading while 174 is exposed on a significant break and closes of lower lows beyond this barrier. We are light on the data front until the end of the week with Japan’s CPI.

GBP/JPY levels

With spot trading at 177.98, we can see next resistance ahead at 178.04 (Hourly 20 EMA), 178.07 and 178.19. Support below can be found at 177.93 177.61 (Daily Classic S1), 177.53 and 177.14 (Hourly 100 SMA).

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