30 Oct 2013
GBP/JPY waiting on global data events
FXstreet.com (London) - Despite US yields lower being lower, stocks are on the up and with the move higher in stocks this has kept usdjpy bid and subsequently, GBP/JPY is higher also.
USD/JPY is approaching some important levels with 98.50-60 acting as decent resistance. In there we have a series of highs traded earlier in the month with the 50dma (98.46) and 100dma (98.42) just ahead of it ADP and FOMC are up today while the market remains steady and GBP/JPY keeping to a tight range as well with Sterling also trading narrowly. A string of data from Japan is also on the cards today and includes Nomura/ JMMA Manufacturing Purchasing Manager Index (Oct), Foreign investment in Japan stocks (Oct 25), Foreign bond investment (Oct 25), BoJ Interest Rate Decision (Oct 31), Annualized Housing Starts (Sep), Construction Orders (YoY) (Sep), and Housing Starts (YoY) (Sep).
GBP/JPY Levels
The 20 DMA is 157.30, the 50 DMA is 156.65 and the 200 DMA is 150.85. RSI (14) reads 49.34. Supports are ascending from 155.50, 155.85, 156.45, 156.75, 157.55, 157.90, 158.30, 158.75 and 159.55
USD/JPY is approaching some important levels with 98.50-60 acting as decent resistance. In there we have a series of highs traded earlier in the month with the 50dma (98.46) and 100dma (98.42) just ahead of it ADP and FOMC are up today while the market remains steady and GBP/JPY keeping to a tight range as well with Sterling also trading narrowly. A string of data from Japan is also on the cards today and includes Nomura/ JMMA Manufacturing Purchasing Manager Index (Oct), Foreign investment in Japan stocks (Oct 25), Foreign bond investment (Oct 25), BoJ Interest Rate Decision (Oct 31), Annualized Housing Starts (Sep), Construction Orders (YoY) (Sep), and Housing Starts (YoY) (Sep).
GBP/JPY Levels
The 20 DMA is 157.30, the 50 DMA is 156.65 and the 200 DMA is 150.85. RSI (14) reads 49.34. Supports are ascending from 155.50, 155.85, 156.45, 156.75, 157.55, 157.90, 158.30, 158.75 and 159.55