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11 Mar 2014
GBP/JPY slides to 170.90
FXStreet (Córdoba) - The GBP/JPY finished lower on Tuesday hovering barely above 171.10 after bottoming on American hours at 170.92, the lowest price since March 5.
GBP/JPY downside correction still prevails
After reaching at 173.58 a 6-week high, on Friday, the GBP/JPY lost momentum and started a downside correction that still prevails. From last week highs Cable lost 250 pips.
To the downside, the area between 170.80 and 171.00 is the immediate support level to consider, followed by 170.10 and 169.30. On the upside, resistance might lie at 172.20 ahead of 172.90 and 173.55/60 (March 7 high).
GBP/JPY downside correction still prevails
After reaching at 173.58 a 6-week high, on Friday, the GBP/JPY lost momentum and started a downside correction that still prevails. From last week highs Cable lost 250 pips.
To the downside, the area between 170.80 and 171.00 is the immediate support level to consider, followed by 170.10 and 169.30. On the upside, resistance might lie at 172.20 ahead of 172.90 and 173.55/60 (March 7 high).