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4 Feb 2015
GBP/JPY got a rejection at 179.25; back to 178.60
FXStreet (San Francisco) - The Sterling found selling interest at 179.25 against the Japanese Yen and currently the GBP/JPY is trading back below 179.00 to price as low as 178.60.
Earlier in the day, the GBP/JPY rose 150 pips from 177.70 to peak at the highest level since January 28 at 179.25. Currently, GBP/JPY is trading at 178.67, up 0.25% on the day, having posted a daily high at 179.30 and low at 177.72.
GBP/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/JPY levels
If the pair extends rejection below 178.60, it will find next supports at 178.00 and 177.70. To the upside, resistances are at 179.25, 179.40 and 179.60.
Earlier in the day, the GBP/JPY rose 150 pips from 177.70 to peak at the highest level since January 28 at 179.25. Currently, GBP/JPY is trading at 178.67, up 0.25% on the day, having posted a daily high at 179.30 and low at 177.72.
GBP/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/JPY levels
If the pair extends rejection below 178.60, it will find next supports at 178.00 and 177.70. To the upside, resistances are at 179.25, 179.40 and 179.60.