31 Jul 2013
GBP/JPY testing 148.30
FXstreet.com (London) - GBP/JPY has finally found some support after shedding 70 pips since the European open.
Yen is performing well, seeing USD/JPY down from 0.9800 to test 97.65 territories and support. The Yen has been stronger on the anticipation of repatriation flows ahead for August, but today see’s US GDP, ADP employment and FOMC on the last day of the month also, so there is unlikely to be very much more in the way of offers until the data releases are confirmed one way or another. Positioning ahead of the data and support should come into play here for the cross at 148.50/80 territory. This support line dates back to April on a number of occasions on the daily chart.
GBP/JPY levels
GBP/JPY levels are 20d ma 151.40, 50d ma 151.50, 200d ma 144.05 and RSI (9) 38.92. Support is 147.15, 147.45, 148.30, 148.36 with resistances 149.25, 150.15 ,151.00, 151.65 and 152.35.
Yen is performing well, seeing USD/JPY down from 0.9800 to test 97.65 territories and support. The Yen has been stronger on the anticipation of repatriation flows ahead for August, but today see’s US GDP, ADP employment and FOMC on the last day of the month also, so there is unlikely to be very much more in the way of offers until the data releases are confirmed one way or another. Positioning ahead of the data and support should come into play here for the cross at 148.50/80 territory. This support line dates back to April on a number of occasions on the daily chart.
GBP/JPY levels
GBP/JPY levels are 20d ma 151.40, 50d ma 151.50, 200d ma 144.05 and RSI (9) 38.92. Support is 147.15, 147.45, 148.30, 148.36 with resistances 149.25, 150.15 ,151.00, 151.65 and 152.35.