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31 Mar 2014
GBP/JPY breaks above 172.00
FXStreet (San Francisco) - The Sterling is extending its advance against the Japanese Yen as the pair is joining the risk appetite environment in the last day of the Q1 and the end of the Japanese fiscal year.
The GBP/JPY advanced 50 pips in the latest few hours to break above 172.00 and reach fresh highs since March 11 at 172.10.
Currently, GBP/JPY is trading at 172.08, up 0.58% on the day, having posted a daily high at 172.15 and low at 170.98. The spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
RSI is in neutral territory at 64.62, down from its last hourly close at 78.86, while ADX is trending above 30 at 30.66, down from 36.92 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 57.82.
GBP/JPY levels
Above the 172.00 level, the pair would face resistances at 172.15 (Daily High) and 172.78 (Monthly High). Next support to the downside can be found at 171.55 (Hourly 20 EMA), 171.34 (Yesterday's High) and 171.11 (Weekly High).
The GBP/JPY advanced 50 pips in the latest few hours to break above 172.00 and reach fresh highs since March 11 at 172.10.
Currently, GBP/JPY is trading at 172.08, up 0.58% on the day, having posted a daily high at 172.15 and low at 170.98. The spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
RSI is in neutral territory at 64.62, down from its last hourly close at 78.86, while ADX is trending above 30 at 30.66, down from 36.92 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 57.82.
GBP/JPY levels
Above the 172.00 level, the pair would face resistances at 172.15 (Daily High) and 172.78 (Monthly High). Next support to the downside can be found at 171.55 (Hourly 20 EMA), 171.34 (Yesterday's High) and 171.11 (Weekly High).