11 Jul 2013
GBP/JPY bid in London
FXstreet.com (London) - GBP/JPY is rising during the European session.
GBP/JPY dropped back from a high of 150.50 printed overnight and resumed lower levels below 149.00. The pair are now 70 pips higher again, bid in London approaching 150.00. There was some initial flow through after the release of the FOMC and we also had the BoJ monetary policy meeting.
GBP/JPY to resume bullish channel?
The BoJ was less eventful with their policy left unchanged, but they did say that the economy was starting to recovery modestly. On tat note, there is a negative bias to the pair with main support at 147.65. The pair would need to recover 150.00 to resume the longer term bullish channel, with long term MA’s in the green.
GBP/JPY dropped back from a high of 150.50 printed overnight and resumed lower levels below 149.00. The pair are now 70 pips higher again, bid in London approaching 150.00. There was some initial flow through after the release of the FOMC and we also had the BoJ monetary policy meeting.
GBP/JPY to resume bullish channel?
The BoJ was less eventful with their policy left unchanged, but they did say that the economy was starting to recovery modestly. On tat note, there is a negative bias to the pair with main support at 147.65. The pair would need to recover 150.00 to resume the longer term bullish channel, with long term MA’s in the green.