GBP/JPY - Challenging The Key Support at 181.13
GBP/JPY has declined sharply and is now challenging the key support at 181.13 (see also the 38.2% retracement). Hourly resistances can be found at 182.71 (intraday high) and 184.96 (30/12/2014 low).
In the long-term, the trend is positive as long as the key support at 178.74 (23/09/2014 high) holds. However, the failure to break the psychological threshold at 190.00 is calling for a medium-term consolidation. Another strong resistance stands at 197.45 (24/09/2008 high).