Forex: GBP/JPY testing the 152.00 level

FXstreet.com (Barcelona) - The GBP/JPY is testing the 152.00 level in these moments, as it is presently operating slightly in negative territory. However, this present movement has come on the heels of a recovery that started off the 151.62 level (session low) Monday, as the pair has erased the majority of its losses.

At this juncture the cross has settled a marginal -0.02% off its opening. Mataf.net analysts point to additional means of support at 150.33, then 148.78, and finally 147.69. On the ascension or regarding a break higher, the pair will meet resistance at 152.97, onto 154.06, and finally 155.61.

According to the ICN.com technical analyst team, “The GBP/JPY rebounded after testing the 151.00 support level on Friday, where the short-term structure remains slightly bullish. However, we see a likely sideways trading path intraday.”