GBP/JPY rises back to the 172.00 zone

FXStreet (Córdoba) - The GBP/JPY moved in ranges between 171.90 and 171.50 during most of the day and on American hours, as the Yen weakened across the board rose back to the 172.00 area. Cable printed a fresh weekly high at 172.11, just one pips above yesterday's highs.

Currently is hovering barely above 172.00, on its way toward the highest daily close since April. 3 and the fourth consecutive gain.

Levels to watch for the GBP/JPY

The price holds a bullish momentum in the short term, particular after breaking important resistance levels on Wednesday. To the upside immediate resistance could be located at 172.30 and above here at 172.65 and 173.15 (April 3 high).

Support levels might lie at daily lows at 172.50 and below here at 170.90, 170.50 (April 14 high) and 170.10.