27 Jun 2013
GBP/JPY rising again
FXstreet.com (London) - GBP/JPY began to recover in the afternoon, NY and Asia.
Overnight the pair climbed to be handed over to Europe to test 150.40/60 resistances. The US dollar continued to correct lower overnight with the sharp downturn in GDP, which may assure investor that tapering is a little further off yet. US yeilds declined yet again and boosted Cable, allowing for the pound to take Yen higher. More settled market conditions have enabled investors to pick up on Yen funded carry trades yet again.
GBP/JPY Levels, bullish bias
GBP/JPY is rising fundementaly, and technically the pair is targetting 150.60, 151.35 and 152.00. The pivot is 150.11. The ascending trend line is still in tact, and while it is, the trend offers a guide line while supported areas come in as 150.00, 149.35 and 148.15.
Overnight the pair climbed to be handed over to Europe to test 150.40/60 resistances. The US dollar continued to correct lower overnight with the sharp downturn in GDP, which may assure investor that tapering is a little further off yet. US yeilds declined yet again and boosted Cable, allowing for the pound to take Yen higher. More settled market conditions have enabled investors to pick up on Yen funded carry trades yet again.
GBP/JPY Levels, bullish bias
GBP/JPY is rising fundementaly, and technically the pair is targetting 150.60, 151.35 and 152.00. The pivot is 150.11. The ascending trend line is still in tact, and while it is, the trend offers a guide line while supported areas come in as 150.00, 149.35 and 148.15.