GBP/JPY easing from highs targets 144.00

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Tue, 06 Apr 2010 02:01:00 +0200

GBP/JPY easing from highs targets 144.00

FXstreet.com (Barcelona) – After 8 straight days of sharp rises, upticking came temporarily to an end in yesterday's session as the Yen managed to make a minor correction to the downside closing at 144.28. During the sequence of the recent rises, price peaked its highest level at 144.90 zone (9-week high). In Asian session now, the price fluctuates in docile moves towards 144.00.

From a technical point of view, analysts team at 4CAST shares some valuable insights: “Overbought conditions seen on daily tools hindering upmove to 145.27 resistance with prices settling into consolidation and ability to push below yesterday's low of 143.76 will inspire corrective pullback to 142.73 ahead of deeper 141.70. Above 145.27 will see bulls back on firm footing”