25 Oct 2013
GBP/JPY’s climb is on; targets 158
FXstreet.com (Chicago) - GBP/JPY extends its climb with potential decay once Japanese facts are released although the pair seems to hold on strongly to the 157.60 front for a winning week so far.
From FXLive, earlier highlights from BoE governor Carney: “BOE will offer money, collateral for longer terms; BOE will accept a ‘very broad range’ of collateral; BOE will cut prices of discount window; new framework is for ‘markets of tomorrow’; Initial use of BOE framework likely to be limited.” In Japan, market participants wait for data releases due within a few hours.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.69 and oscillates between the supports aligned at 157.34 (October 3rd highs), 157 (October 17th lows) ahead of 156.64 (October 11th lows) and the resistances set at 157.87 (October 18th lows), 158.29 (October 2nd highs) followed by 158.75 (October 21st highs). According to the FXstreet.com trend index on one-hour timeframe analysis the pair is slightly bullish.
From FXLive, earlier highlights from BoE governor Carney: “BOE will offer money, collateral for longer terms; BOE will accept a ‘very broad range’ of collateral; BOE will cut prices of discount window; new framework is for ‘markets of tomorrow’; Initial use of BOE framework likely to be limited.” In Japan, market participants wait for data releases due within a few hours.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.69 and oscillates between the supports aligned at 157.34 (October 3rd highs), 157 (October 17th lows) ahead of 156.64 (October 11th lows) and the resistances set at 157.87 (October 18th lows), 158.29 (October 2nd highs) followed by 158.75 (October 21st highs). According to the FXstreet.com trend index on one-hour timeframe analysis the pair is slightly bullish.