30 Jul 2013
GBP/JPY dropping below 149.48 support
FXstreet.com (Chicago) - GBP/JPY had dropped 0.52% since opening as yen continued to strengthen against the pound.
Price action indicated pair found support at 149.20 on sideways market in the aftermath of precipitous losses incurred throughout the journey.
On outlook for Japanese manufacturing data on Wednesday morning, FXstreet.com studies reported pair as slightly bearish as price navigated below key support at 149.48. Trading at 149.32 at moment of writing, following supports were set at 149.11 and 148.73. On 15-minute timeframe analysis, both EMA5 and EMA20 presented sell signals along a Momentum indicator pointing down.
Price action indicated pair found support at 149.20 on sideways market in the aftermath of precipitous losses incurred throughout the journey.
On outlook for Japanese manufacturing data on Wednesday morning, FXstreet.com studies reported pair as slightly bearish as price navigated below key support at 149.48. Trading at 149.32 at moment of writing, following supports were set at 149.11 and 148.73. On 15-minute timeframe analysis, both EMA5 and EMA20 presented sell signals along a Momentum indicator pointing down.