FX.co ★ Technical analysis of GBP/JPY for July 21, 2014

The pair held the 50 DSma and pushed a bit higher. The previous week, the pair lost support at 20 DSma and closed below it, but held the 50 DSma and is trading above it. The weekly trading pattern is framed between 172.50- 173.77 levels. On the down side, if the pair hits the 50 DSma and closes below it, it can extend its fall to 172.11, 171.75 and 170.95 levels.

Support zone is between 172.50-172.36.

Resistance 173.46, 173.77.

For an hourly basis, the pair is trading below the hourly moving averages. The resistance levels are at 173.32 and 173.65 levels. The support levels are at 173.05 (8hr low), below this 172.69 (12 and 16hr low).