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25 Feb 2014
GBP/JPY hovering around 170.70
FXStreet (Córdoba) - The GBP/JPY finished with marginal gains on Monday and started Tuesday quiet, hovering around 170.70. The Yen pulled back across the board during the American session pushing the pair back above 170.50.
GBP/JPY technical outlook
The pair continues to move with sideways without a clear trend since the beginning of last week but on a wider view holds a bullish tone, but the upside momentum faded in the last days.
To the upside, immediate resistance lies at 170.85 and above here at 171.65 (February 18, 21 highs) and 172.00. To the downside support levels might lie at 169.85 (February 24 low) and 169.10/20 (February 14, 20 low).
GBP/JPY technical outlook
The pair continues to move with sideways without a clear trend since the beginning of last week but on a wider view holds a bullish tone, but the upside momentum faded in the last days.
To the upside, immediate resistance lies at 170.85 and above here at 171.65 (February 18, 21 highs) and 172.00. To the downside support levels might lie at 169.85 (February 24 low) and 169.10/20 (February 14, 20 low).