GBP/JPY sprints to 166.55 5-year highs

FXstreet.com (Chicago) – GBP/JPY continues outweighing the yen and strengthens considerably putting high pressure to the bears who, mercilessly, watch the bulls have a feast ahead of Tokyo’s opening.

GBP/JPY Technical Levels

Price action reveals the pair sprints to 5-year highs extending the strong rally that started on January 1st 2012’s reversal day. With a very steep line that continues edging higher, the pair soars to 166.55 and retraces minimally. Now offered at 166.48, the pair navigates between the supports aligned at 165.40 (November 24th highs), 163.49 (November 22nd lows) ahead of 161.65 (November 15th highs) and the resistances set at …read more