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GBP/JPY rises to 4-week highs

FXStreet (Córdoba) - The pound is among the top performers on Monday and is rising across the board. GBP/JPY recently reached a fresh high at 185.10 but it failed so far to rally above and pulled back modestly.

GBP/JPY breaks previous highs

The pair opened the week with a bearish gap, trading at 183.80 but quickly bouced to the upside and filled the gap. In continued to rise and then accelerated as the pound strengthened in the market.

After breaking above 184.75 (last week highs) rose to 185.10. Then pulled back to 184.65. Currently it trades at 184.90, 50 pips above Friday’s closing price.

GBP/JPY technical levels

To the upside, resistance levels could be located at 185.10 (daily high), 185.70 and 185.90. On the opposite direction support might lie at 184.70, 184.50 (hourly 20 MA) and 183.75/80 (daily low).

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