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GBP/JPY triple bounce back off the lows

FXStreet (Barcelona) - GBP/JPY is trading at 173.15, down -0.22% on the day, having posted a daily high at 173.66 and low at 172.97.

GBP/JPY has been third time lucky for the bulls, on a triple bounce the pair has been forced back into the 173.20’s and oscillates there at time of writing. The Yen has been making a come back across the board after a significantly down day amid stronger US stocks and trade offs for risk. The pair however has some work to do if there is to be a bullish formation left on the daily charts and 174 would need to be conquered for a positive looking close in towards year-end and out of neutral territory.

GBP/JPY noteworthy levels

Spot is presently trading at 173.17, and next resistance can be seen at 173.24 (Daily 20 SMA), 173.40 (Daily 100 SMA), 173.56 (Daily Open), 173.66 (Daily High) and 173.67 (Yesterday's High). Support below can be found at 173.06 (Hourly 20 EMA), 172.97 (Daily Classic PP), 172.97 (Daily Low), 172.87 (Weekly High) and 172.47 (Hourly 100 SMA).

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