Forex: The GBP/JPY finds support at 135.00

By IBTimes Staff Reporter | March 09 2009 9:31 AM

FXstreet.com (Barcelona) - After falls more than 300 pips from the 139.12 to the 136.00 support and daily minimum since the beginning of the European session, the GBP/JPY has found support finally and has stopped its free falls. After that, the pair has begun to recover slightly.

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Currently, the pair is trading around the 136.50/70. Initially, the GBP/JPY has bounced from the 136.00 support to the 137.00. If the downtrend continue, the pair will go down to the 135.90 as first support, and below there, 135.20 will be exposed.

On the upside, the if the pair could go up and recover its today's losses, the 140.00 resistance and the 141.30 level looks like importante numbers.