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GBP/JPY continues to recover, approaches 172.00

FXStreet (Córdoba) - The GBP/JPY is rising for the second day in a row, recovering further after falling last week to 170.69, a 2-month low. During the American session the pair has risen almost 50 pips and recently printed a fresh high at 171.94, moving back toward Thursday’s levels.

The Pound is among the best performer across the board on Tuesday and is rising in the market. The GBP/USD is trading above 1.6800 at fresh high since Friday while the USD/JPY remains steady hovering around 1012.20, flat for the day.

GBP/JPY technical levels

Despite the recovery the GBP/JPY is still facing downside pressure on a wider perspective. To the downside, support might be located at 171.20 (august 11 low) and below here at 170.90 and 170.65/70 (August 8 low). Immediate resistance is seen at 172.00 and above at 172.35/40 and 172.70.

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