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21 Jun 2013
GBP/JPY testing support area 150.70
FXstreet.com (London) - GBP/JPY has been printing lower lows since midday European session and into the NA opening.
We also witnessed a session low in USD/JPY 97.25, which it has recovered from marginally, all the while Sterling has continued to print lower with a recent bearish gap in the charts to record a session low at 1.5417, explaining the crosses lower lows. There isn’t any further data to come and we are heading towards the sessions closing hour, with the pair 160 pips up so far on the week.
GBP/JPY in still in Bullish territory
GBP/JPY remains overall bid, although is losing some ground in the European session on profit taking ahead of the weekend on a quiet calendar. GBP/JPY remains on path towards the 50d MA and should a break be concluded there, the upside will remain very much in tact. 150.40 and 150.00 are support zones before 148.00
We also witnessed a session low in USD/JPY 97.25, which it has recovered from marginally, all the while Sterling has continued to print lower with a recent bearish gap in the charts to record a session low at 1.5417, explaining the crosses lower lows. There isn’t any further data to come and we are heading towards the sessions closing hour, with the pair 160 pips up so far on the week.
GBP/JPY in still in Bullish territory
GBP/JPY remains overall bid, although is losing some ground in the European session on profit taking ahead of the weekend on a quiet calendar. GBP/JPY remains on path towards the 50d MA and should a break be concluded there, the upside will remain very much in tact. 150.40 and 150.00 are support zones before 148.00