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GBP/JPY moving back into daily range

FXStreet (Barcelona) - GBP/JPY is trading at 172.60, up 0.34% on the day, having posted a daily high at 172.72 and low at 172.22.

GBP/JPY has is relentless and is in a firmly bid position. The 200 SMA is currently at 170.60, down from 172.20 at the last period close, and declining on the hourly GBP/JPY chart. The pair has some work to do however in a positively bear trend over a longer time frame but is managing territory on a positive note back into the channel that formed before the spike and reversal on the longer dated charts over a 20 big figure move.

GBP/JPY noteworthy levels

Spot is presently trading at 172.61, and next resistance can be seen at 172.70 (Daily Classic R1), 173.36 (Daily 100 SMA) and 173.38 (Daily Classic R2). Support below can be found at 172.22 172.20 (Hourly 200 SMA), 172.13) and 171.99 (Daily 200 SMA).

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