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Forex pairs in this Article » GBP/USD, USD/JPY
FXStreet (Moscow) - GBP/JPY is trying to reverse losses after dropping to the current Asian low at 169.36 amid geopolitical concerns driving the Yen higher across the board.

GBP/JPY falls victim of risk aversion

On Thursday GBP/JPY touched the bespoke support of 169.00 but managed to close above 170.00. The upside correction stopped at the resistance level of 170.30, enhanced by 1h 50 EMA and after a short period of consolidation during Asian hours the downside resumed. The cross is driven by JPY strengthening across the board and this trend is going to be dominant on the intraday basis. Investors are jittery and try to take their assets to a safer place before the week-end as none knows what may happen. BOE Governor Mark Carney speaks today, though he will hardly say anything new. From the technical point of view, keep an eye at the support of 169.40 followed by 169.00. The resistance comes at 170.00.

What are today’s key GBP/JPY levels?

Today's central pivot point can be found at 170.10, with support below at 169.34, 168.29, and 167.53, with resistance above at 171.14, 171.91 and 172.95. Hourly Moving Averages are bearish, with the 200SMA at 170.55 and the daily 20EMA at 169.92. Hourly RSI is neutral at 45.
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