GBP/JPY bounces at 169.45 and trades back above 170.00

FXstreet.com (San Francisco) - The Sterling's decline from 170.50 against the Japanese yen found support at the 169.45 area where the pair has bounced to price back above 170.00 in the latest hour.

Currently, the GBP/JPY is trading at 170.27, 0.90% positive on the day. The short term perspective is slightly bullish according to the FXStreet trend index. CCI, MACD and Momentum are pointing to the north while the Stochastic is bearish.

GBP/JPY bias

The Sterling to Yen exchange rate would face resistances at 170.50, 171.15 and 172.25. On the downside, supports are at 169.45, 169.00 and 168.00.

Jan 27, 2014

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