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GBP/JPY retraces from 166.60 to stall at 166.20

FXstreet.com (Chicago) – GBP/JPY is flat on corrective move after retracing from 166.60 session highs as the Asian journey goes on.

GBP/JPY Technical Levels

Technically speaking, the pair is offered at 166.10 and evidences a corrective move after topping to 166.60 session highs. On the downside, supports are aligned at 165.40 (November 24th highs), 163.49 (November 22nd lows) ahead of 161.65 (November 15th highs) while the upside presents resistances at 167.93 (June 2001 lows), 169.48 (July 2001 lows) followed by 171.23 (March 2001 lows). According to the FXstreet.com trend index on one-hour timeframe analysis the pair is slightly bearish and flows …read more