GBPJPY snaps back.. so do other pairs…

After testing the 237.37 support level (21 hour MA) the pair snapped back. GBPUSD could ony get down to 2.0370, keeping the 2.0350 support a fair ways away. USDJPY was able to grind just below 116.50 but found support as GBPJPY failed to break below the 237.37 level. Now USDJPY 21 hour MA has turned a touch lower and is at 116.70 which will be a level of resistance.

So the skittish markets continue with sentiment turning quie regularly.

EURUSD trades back above 1.4200 and looks positive. USDCHF has maintained a bid at/around 118.00 and now trades at 118.18. resistance at 118.30.