Pound extends recovery versus yen but found resistance at 136.00 and 136.25. GBP/JPY bullish bias still in place, momentum eases. The pound is rising for the fifth consecutive day versus the Japanese yen on Tuesday, as the recovery from the lowest in almost three months continues. The rally is showing signs of exhaustion as it failed to break Monday’s highs and also after being rejected from above 136.00 again. The GBP/JPY will likely continue to consolidate between 135.00 and 136.00. If it manages to break and hold above 136.00 more gains seem likely. The first target is seen at 136.50 (20-day simple moving average) followed by 137.50/70. If the current loss of momentum in GBP/JPY triggers a decline, the key support to watch is seen at the band 134.50/70. A break lower would increase the bearish pressure, suggesting a test of the September low at 133.00 (interim support at 133.75). GBP/JPY 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Oil Price Analysis: WTI takes another drop below $40 per barrel and breaks technical formation FX Street 2 years Pound extends recovery versus yen but found resistance at 136.00 and 136.25. GBP/JPY bullish bias still in place, momentum eases. The pound is rising for the fifth consecutive day versus the Japanese yen on Tuesday, as the recovery from the lowest in almost three months continues. The rally is showing signs of exhaustion as it failed to break Monday’s highs and also after being rejected from above 136.00 again. The GBP/JPY will likely continue to consolidate between 135.00 and 136.00. If it manages to break and hold above 136.00 more gains seem likely. The first target is seen at 136.50… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
