GBP/JPY at fresh 6-month highs

FXStreet (San Francisco) - The Sterling is extending its advance against the Japanese Yen as the pair jumped 35 pips in the last two hours from 173.90 to reach fresh highest since January 2nd at 174.30.

Currently, GBP/JPY is trading at 174.18, up 0.52% on the day, having posted a daily high at 174.31 and low at 173.27. GBP/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.

GBP/JPY levels

If the pair holds above 174.00, the GBP/JPY would face resistances at 174.50 and 175.00. On the downside, 173.90, 173.40 and 173.10 are supports.