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5 Jul 2013
GBP/JPY falls below 151.00 level
FXstreet.com (New York) - The GBP/JPY technical cross tumbled during Asian trading Friday, falling below the 151.00 level in recent moments.
GBP/JPY moves into positive territory
In what transpired as a nearly 30 pip fall, the GBP/JPY retraced back to its opening levels, settling at 150.75 at the time of writing. According to the Danske Research Team, the pair will encounter supports at 150.15, then 149.65, and finally 149.30. Alternatively, a break above 150.95 will open resistances at 151.50 and 151.90
GBP/JPY could face drop towards 147.65
“The GBP/JPY declined strongly to break the 151.90 and 151.35 levels, approaching the upside channel's support that carries the short term trading. Now, the positive overview was stopped, and we wait, monitoring the price behavior when reaching the support line at 149.30, as breaking it will open the way for more decline towards 147.65.” notes the Technical Analyst Team at ICN.com.
GBP/JPY moves into positive territory
In what transpired as a nearly 30 pip fall, the GBP/JPY retraced back to its opening levels, settling at 150.75 at the time of writing. According to the Danske Research Team, the pair will encounter supports at 150.15, then 149.65, and finally 149.30. Alternatively, a break above 150.95 will open resistances at 151.50 and 151.90
GBP/JPY could face drop towards 147.65
“The GBP/JPY declined strongly to break the 151.90 and 151.35 levels, approaching the upside channel's support that carries the short term trading. Now, the positive overview was stopped, and we wait, monitoring the price behavior when reaching the support line at 149.30, as breaking it will open the way for more decline towards 147.65.” notes the Technical Analyst Team at ICN.com.