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8 Apr 2013
Forex: GBP/JPY falls off highs to 151.13/18
FXstreet.com (Barcelona) - The GBP/JPY has given back some of its early gains, following a peak at the 151.81 level earlier today during European trading. However, in recent minutes the pair has eased slightly back to the 151.13/18 mark, though still notching an advance of +0.50%.
“The GBP/JPY maintained the extreme bullish bias, breaking the latest major highs at 148.00 and started the week with a bullish gap to retest a historical resistance at 151.60. The bias is strongly bullish, but the pair is hanging in the air as RSI is also showing overbought signals. We expect the bullish bias to continue, but look to long the pair after a minor pullback.” notes the ICN.com analyst team.
Briefing the technical levels, the Mataf.net analyst team points to resistances at 153.12, onto 155.23, and ultimately 158.81. Conversely, a movement lower will enable supports at 147.43, ahead of 143.85, and finally 141.74.
“The GBP/JPY maintained the extreme bullish bias, breaking the latest major highs at 148.00 and started the week with a bullish gap to retest a historical resistance at 151.60. The bias is strongly bullish, but the pair is hanging in the air as RSI is also showing overbought signals. We expect the bullish bias to continue, but look to long the pair after a minor pullback.” notes the ICN.com analyst team.
Briefing the technical levels, the Mataf.net analyst team points to resistances at 153.12, onto 155.23, and ultimately 158.81. Conversely, a movement lower will enable supports at 147.43, ahead of 143.85, and finally 141.74.