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25 Apr 2013
Forex: GBP/JPY breaks above 152 on Pound strength
FXstreet.com (Barcelona) - GBP/JPY has finally broken above the 152 handle on combined Pound strength and Yen weakness, at the time BoJ Kuroda has been talking before parliament, and Nikkei index has knocked on the 13900 points mark for first time since the summer of year 2008.
The cross keeps finding resistance below yesterday's and Monday's weekly highs at 152.29, with Cable currently at Monday's highs and Fibo resistance 1.53 round. USD/JPY in the other hand has been capped at the 99.50 level, ahead of the key 100 mark, where more than $2B selling orders are awaiting, options related, looking for tomorrow's BoJ and US GDP.
Immediate resistance to the upside for GBP/JPY shows at yesterday's double weekly highs with Monday's 152.29, followed by Friday's highs at 152.50, and April 11 fresh almost 3-year highs and key Fibo level/Oct 2009 highs. To9 the downside, closest support lies at April 10 lows/April 17 highs 151.25/20, followed by Monday's lows at 150.84, and Tuesday's weekly lows/April 05 highs at 150.00/149.90.
The cross keeps finding resistance below yesterday's and Monday's weekly highs at 152.29, with Cable currently at Monday's highs and Fibo resistance 1.53 round. USD/JPY in the other hand has been capped at the 99.50 level, ahead of the key 100 mark, where more than $2B selling orders are awaiting, options related, looking for tomorrow's BoJ and US GDP.
Immediate resistance to the upside for GBP/JPY shows at yesterday's double weekly highs with Monday's 152.29, followed by Friday's highs at 152.50, and April 11 fresh almost 3-year highs and key Fibo level/Oct 2009 highs. To9 the downside, closest support lies at April 10 lows/April 17 highs 151.25/20, followed by Monday's lows at 150.84, and Tuesday's weekly lows/April 05 highs at 150.00/149.90.