4 Jul 2013
GBP/JPY below 152.00
FXstreet.com (London) - GBP/JPY has marched down through 152.00 this morning.
GBP/JPY has shed 60 pips since the open, while GBP/USD has also drifted lower ahead of BoE coming up (11GMT). The pair, GBP/JPY, is however attracting bids towards the figure again. Japan has offered some positive reports of late, making for improved sentiment in the economy, and while Japan has been purchasing overseas assets, improvements in the economy could attract foreign investment, strengthening the currency. In fact, cross-border flow data showed investors buying the largest amount of Japanese equities since the week ending 17th May. The main event for the pair comes of course in Mark Carney’s first monetary policy meeting.
GBP/JPY 151.80/90 support
GBP/JPY has been well supported at 151.80/90 level and this marks the descending trend line support for the pair on the sort term 5 minute charts. Longer term, through the pivot 152.30, the ma’s offer an upside bias. Targets are 15315 and 154.65 while 151.90 holds.
GBP/JPY has shed 60 pips since the open, while GBP/USD has also drifted lower ahead of BoE coming up (11GMT). The pair, GBP/JPY, is however attracting bids towards the figure again. Japan has offered some positive reports of late, making for improved sentiment in the economy, and while Japan has been purchasing overseas assets, improvements in the economy could attract foreign investment, strengthening the currency. In fact, cross-border flow data showed investors buying the largest amount of Japanese equities since the week ending 17th May. The main event for the pair comes of course in Mark Carney’s first monetary policy meeting.
GBP/JPY 151.80/90 support
GBP/JPY has been well supported at 151.80/90 level and this marks the descending trend line support for the pair on the sort term 5 minute charts. Longer term, through the pivot 152.30, the ma’s offer an upside bias. Targets are 15315 and 154.65 while 151.90 holds.