• 854 days Will The ECB Continue To Hike Rates?
  • 855 days Forbes: Aramco Remains Largest Company In The Middle East
  • 856 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,256 days Could Crypto Overtake Traditional Investment?
  • 1,261 days Americans Still Quitting Jobs At Record Pace
  • 1,263 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,266 days Is The Dollar Too Strong?
  • 1,266 days Big Tech Disappoints Investors on Earnings Calls
  • 1,267 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,269 days China Is Quietly Trying To Distance Itself From Russia
  • 1,269 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,273 days Crypto Investors Won Big In 2021
  • 1,273 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,274 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,276 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,277 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,280 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,281 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,281 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,283 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

GBP/JPY- Bearish Pause Ahead of Key Support

GBP/JPY continues to weaken after the break of the key support at 172.38, as can be seen by the break of the rising channel. However, prices are now close to the strong support at 169.51 (see also the rising trendline and the 200 day moving average). Hourly resistances can be found at 171.92 (intraday high) and 172.63 (07/08/2014 high).

In the long-term, the break of the major resistance at 163.09 (07/08/2009 high) calls for further strength towards the resistance at 179.17 (15/08/2002 low). The long-term technical structure remains supportive as long as the key support at 169.51 (11/04/2014 low) holds.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment