7 Aug 2013
GBP/JPY cracks to 149.29 weekly lows
FXstreet.com (Chicago) - GBP/JPY dipped below 150.00 key psychological support at dawn of Nikkei’s opening.
Price action indicated a sharp decline from 150.00 regions down to 149.29 lows. Market participants seemed bearish towards a pound that accumulated 0.41% daily losses as week accounted to -1.23% so far.
Minutes before the opening of the Nikkei markets, the FXstreet trend index reported the pair as slightly bearish on one-hour timeframe analysis as it traded below short and long haul moving averages and both the MACD and CCI indicators pointed down. Supports were aligned at 149.41 (July 30th highs), 149.26 (intraday lows) ahead of 149.16 (July 29th lows) and resistances at 149.54 (July 13th lows), 149.64 (July 11th lows) followed by 149.76 (July 29th lows).
On Wednesday morning, the BoE will publish its quarterly inflation report followed by its new governor’s speech.
Price action indicated a sharp decline from 150.00 regions down to 149.29 lows. Market participants seemed bearish towards a pound that accumulated 0.41% daily losses as week accounted to -1.23% so far.
Minutes before the opening of the Nikkei markets, the FXstreet trend index reported the pair as slightly bearish on one-hour timeframe analysis as it traded below short and long haul moving averages and both the MACD and CCI indicators pointed down. Supports were aligned at 149.41 (July 30th highs), 149.26 (intraday lows) ahead of 149.16 (July 29th lows) and resistances at 149.54 (July 13th lows), 149.64 (July 11th lows) followed by 149.76 (July 29th lows).
On Wednesday morning, the BoE will publish its quarterly inflation report followed by its new governor’s speech.