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Forex pairs in this Article » GBP/JPY (Barcelona) - GBPJPY has confirmed the overnight high at 139.29 during a European session which has seen spot trade within a tight range.

The pair has traded with an upside bias as Yen weakness looks to continue into the new year. Spot is currently trading at 139.30, just below Fibonacci R1 Resistance at 139.38. On an hourly chart, both the 20 and 5 MA's are offering support to price action and RSI is at 58 but low on direction impetuous. The Danske Bank team are long at 132, with a target of 140 and have moved their stop to 138.00.
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