OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/JPY rejected off 172.70/80 key resistance

FXStreet (Bali) - GBP/JPY is trading under pressure due to Yen strength across the board during Asian hours.

There has been no triggers known that may have caused the 30-40 pips move seen since the Tokyo open, with stop loss hunting and unwinding of Yen shorts probably the most logic explanation behind the run.

Technically, the pair is faced with key parallel resistance at 172.70-80 ahead of further supply expected at 173.00 and descending trendline coming just above. On the downside, 172.00-10 presents first support now ahead of 171.60.

NZD/USD: Corrective run off 0.8311 reaches 0.8335

After posting a new 6-month low at 0.8311 in reaction to a lower-than-expected NZ trade balance, the NZD/USD has managed to rebound over 20-25 pips towards 0.8330-35.
Read more Previous

Asia Recap: Short-lived new lows for the Euro

A quiet Asian session, with the Japanese Yen ending as the top performer on a corrective pullback, while the Euro and Kiwi were the weakest initially but managed to rebound above NY closes.
Read more Next
Start livechat