Forex: GBP/JPY extends decline below 137.00
Fri, Mar 19 2010, 10:19 GMT
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FXstreet.com (Barcelona) - Pound recovery frm 135.15 low on Tuesday was capped at 139.35 high on Tuesday, and the pair has recovered its bearish momentum after failure to break 138.00 area dropping all the way to reach levels below 137.00.
If the pair confirms below 137.00 (Mar 17 low), next support levels could be at 136.60 (intra-day level) and then the support trendline from Mar 4 lows, around 1.3600/10.
On the upside, above 137.00, next resistance levels lie at 138.00/10 (session high), and above here 138.40/55 (Mar 18 highs) and 139.49 (Mar 17 high).

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