Gained momentum and bounced from below 186.00 breaking above 186.40, where
previous highs lied and peaked at 186.68. It remains trading near the highs with
a bullish tone and eyeing yesterday’s highs that lie at 186.96.
The area
around 187.00 is the immediate barrier to consider. If it rises above it would
be trading at the strongest since mid-September.
The pound is rising
against the yen for the fourth time out of the last five trading days as it
continues to move with a bullish tone in the short term supported by the daily
20-SMA, that stands at 184.70/80.
GBP/JPY: 2 key levels
As mentioned, the immediate key resistance is located around
187.00 and above the next level to watch is the 187.50 zone, that capped the
upside during the last week of August and during September. GBP/JPY traded above
but it failed to post a daily close on top; if it consolidates on top, it would
open the doors for more gains.
