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14 Apr 2015
GBP/JPY rebounds from 6-month lows and erases losses
FXStreet (Córdoba) - GBP/JPY rebounded sharply and rose from 174.87 (lowest since Oct 31) to 176.61, the highest price since last Friday. The pair rose more 150 pips during the last few hours.
From the highs the pair pulled back modestly and it was trading at 176.20/25, at the same price level it had at the beginning of the day after erasing losses on the back of a rally of the pound. GBP/USD jumped from 1.46 to 1.48, offsetting the decline of USD/JPY.
GBP/JPY technical levels
To the upside, resistance levels might lie at 176.60/65 (Apr 13, 14 highs), 177.10 (Apr 9 low) and 177.55. On the opposite direction potential support levels are located at 175.65, 175.30 and 174.85/90 (Apr 14 low).
From the highs the pair pulled back modestly and it was trading at 176.20/25, at the same price level it had at the beginning of the day after erasing losses on the back of a rally of the pound. GBP/USD jumped from 1.46 to 1.48, offsetting the decline of USD/JPY.
GBP/JPY technical levels
To the upside, resistance levels might lie at 176.60/65 (Apr 13, 14 highs), 177.10 (Apr 9 low) and 177.55. On the opposite direction potential support levels are located at 175.65, 175.30 and 174.85/90 (Apr 14 low).