GBP/JPY erases some of its gains and ends the week up more than 3 percent. GBP / JPY Traders largely ignored UK political turmoil. The cross currency is range bound as seen on the hourly chart. , GBP/JPY shares some of Thursday’s losses but remains close to weekly highs around 166.00, while British political turmoil weighs on GBP/USD, GBP/JPY continues to rise led by Bank of Japan. attitude Consequently, GBP/JPY is trading at 166.16, which is 0.33% below its opening price. GBP / JPY PRICE CHART The GBP / JPY daily chart remained unchanged from Thursday, although it should be noted that the rate is above the October 5 high of 165.71, which could keep GBP / JPY trading between 165.71 and 167.27. area Oscillators remain in positive territory, keeping the neutral uptrend intact, although a break above 167.27 would pave the way to 167.9 before challenging the YTD high of 168.73. The hourly scale of , GBP/JPY shows the pair converging between the 20 and 50 EMAs, while the Relative Strength Index (RSI) is almost flat but in a bullish range. On the upside, the first resistance would be the 20-EMA at 166. 2, followed by the daily high of 167.21 before 168.00. On the other hand, the first support of GBP / JPY would be the daily pivot at 165. 5, followed immediately by the 50-EMA at 165.27. Once this 18 pips range is released, GBP/JPY could fall to the 165.00 area followed by the S1 pivot at 163.59.