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GBP/JPY stalls below 164.30

FXstreet.com (Chicago) – GBP/JPY prints higher highs and lows slighter stronger ahead of Tokyo’s opening.

GBP/JPY Technical Levels

Price action reveals a pair that stalls and presents parallel movement for two consecutive days now after retracing from the 165.10 zone and managing to sustain gains around 5-year highs. Offered 164.17, the pair oscillates between the supports aligned at 162.67 (November 22nd lows), 161.65 (November 17th highs) followed by 160.83 (November 20th lows) and the resistances set at 165.40 (November 22nd highs), 167.93 (September 10th lows 2008) followed by 169.48 (May 19th lows 2001). According to the FXstreet.com trend index on one-hour …read more