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16 Aug 2013
GBP/JPY hits 152.66 ceiling but maintains momentum
FXstreet.com (Chicago) - GBP/JPY accumulates 0.18% daily gains to add up to 2.29% weekly advancements as the pound strengthened throughout the week against most majors. Dropping 0.07% within the past hour, the pair has been unable to surpass above the 152.60 zone.
According to the ICN technical analysis team, “the pair is trading sideways since early Friday but lingers above 151.40” maintaining an uptrend scenario.
Technically speaking, the pair trades at 152.50 between supports at 152.33 (July 18th lows), 1.52.00 (July 30th highs) ahead of 151.76 (June 22nd highs) and resistances at 152. 65 (July 1st highs), 152.96 (July 3rd highs) followed by 153.22 (August 14th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis to trade above the EMA20.
According to the ICN technical analysis team, “the pair is trading sideways since early Friday but lingers above 151.40” maintaining an uptrend scenario.
Technically speaking, the pair trades at 152.50 between supports at 152.33 (July 18th lows), 1.52.00 (July 30th highs) ahead of 151.76 (June 22nd highs) and resistances at 152. 65 (July 1st highs), 152.96 (July 3rd highs) followed by 153.22 (August 14th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis to trade above the EMA20.