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19 Mar 2015
GBP/JPY unable to consolidate above 180.00
FXStreet (Córdoba) - The GBP/JPY pair rose sharply yesterday after Janet Yellen’s press conference amid a decline of the US dollar across the board. Price peaked at 181.04 but quickly pulled back and finished the day below 180.00.
Today on Asian hours started to pullback and bottomed at the beginning of the European session at 178.60. From there rose back toward 180.00 but it was unable to rose back above.
A consolidation significantly above 180.00 could open the doors to further gains; resistance level above might lie at 180.70 and 181.00/05 (Mar 18 high). On the opposite direction immediate support might lie at 179.15, 178.50 (Mar 17 low) and 177.90.
Today on Asian hours started to pullback and bottomed at the beginning of the European session at 178.60. From there rose back toward 180.00 but it was unable to rose back above.
A consolidation significantly above 180.00 could open the doors to further gains; resistance level above might lie at 180.70 and 181.00/05 (Mar 18 high). On the opposite direction immediate support might lie at 179.15, 178.50 (Mar 17 low) and 177.90.