Wednesday, August 4, 2010
Forex: GBP/JPY dips to session low below 137.00
Pound's recovery from 134.20 low on Friday has found resistance at 137.65/75 area, and the pair's pull back extended on early European session, to a fresh session low right below 137.00.
On the downside, immediate support lies at 136.75 (session low), and below here, 136.45 (Jun 3 low) and 135.80 (Jul 14 high). On the upside, immediate resistance lies at 137.65/75 (Aug 2 high/intra-day high), and above here, 138.00 (figure) and 139.45 downtrend resistance from August high).