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9 Sep 2013
GBP/JPY reaches 15-week peaks surpassing 156.00 level
FXstreet.com (Chicago) - GBP/JPY soared to 156.53 15-week highs at the opening of the Asian trading session. The pair smashed a weaker yen after the Tokyo Olympics loss against Madrid and Istanbul and underperforming data made public in the Asian country.
Extended bullish momentum
In Japan the stocks raised on the outlook of international athletic attention next 2020 Summer Olympics as Tokyo will be hosting the world-class sports competition. Trade balance results were worse than projected along a GDP deflated result failing to meet expectations. The pound advances 77 pips against a weaker yen ahead of consumer confidence data in the Asian country and housing market data in the UK.
GBP/JPY Technical Levels
Price action reveals a short-lived retracement from 156.53 highs not reached for over 15 weeks. A run away gap opened the session to extend bullish trendline originated on August 6th. The pair trades at 156.08, 15-week highs, between supports at 155.42 (August 31st highs), 154.96 (August 30th highs), 154.44 (September 2nd lows) and above broken resistance at 155.97 (September 4th highs) followed by 156.41 (May 8th highs) and 156.86 (May 19th highs).
Extended bullish momentum
In Japan the stocks raised on the outlook of international athletic attention next 2020 Summer Olympics as Tokyo will be hosting the world-class sports competition. Trade balance results were worse than projected along a GDP deflated result failing to meet expectations. The pound advances 77 pips against a weaker yen ahead of consumer confidence data in the Asian country and housing market data in the UK.
GBP/JPY Technical Levels
Price action reveals a short-lived retracement from 156.53 highs not reached for over 15 weeks. A run away gap opened the session to extend bullish trendline originated on August 6th. The pair trades at 156.08, 15-week highs, between supports at 155.42 (August 31st highs), 154.96 (August 30th highs), 154.44 (September 2nd lows) and above broken resistance at 155.97 (September 4th highs) followed by 156.41 (May 8th highs) and 156.86 (May 19th highs).