GBP/JPY remains sideways

FXStreet (Córdoba) - Cable is rising modestly against the yen on Monday after making a bullish turn on Asian hours. GBP/JPY dropped to 177.15 at the beginning of the week and then rebounded. The pair peaked at 178.15 and then pulled back below 178.00. Price action remains moving sideways around 177.70.

GBP/JPY levels to watch

Immediate resistance lies at 178.10/20 (September 26 and 29 high) and above here at 178.45/50 (September 25 high). To the downside, immediate support lies above 177.15 - 177.00, the mentioned area capped the downside during the last three trading days and below here at 176.60 (September 23 low).