18 Nov 2013
GBP/JPY keeping a grip on 161.00 handle
FXstreet.com (London) - GBP/JPY had reached its peak for this moment anyway, topping out at 161.78 before supply took the pair into 160.97 the low.
GBP/JPY has been resilient and stubborn, trading back into 161.00 territory, currently 161.14 at the time of writing. With a quiet calendar today, focus is on this week's minutes from the November MPC and these are expected to show that the decision to keep policy unchanged was unanimous. RBS Global Banking and Markets team said they see Sterling rising. “We believe that the recent out-performance of UK data and the apparent indifference of the BoE MPC to the associated tightening of monetary conditions will continue to play GBP positive.
GBP/JPY Levels
The 20 DMA is 158.40, the 50 DMA is 157.95 and the 200 DMA is 151.75. RSI (14) reads 49.81. Supports are ascending from 159.65, 160.00, 160.45, and 160.75. Spot is currently 161.14 while resistances are 161.65, 162.00, 162.45, 162.60 and 163.05.
GBP/JPY has been resilient and stubborn, trading back into 161.00 territory, currently 161.14 at the time of writing. With a quiet calendar today, focus is on this week's minutes from the November MPC and these are expected to show that the decision to keep policy unchanged was unanimous. RBS Global Banking and Markets team said they see Sterling rising. “We believe that the recent out-performance of UK data and the apparent indifference of the BoE MPC to the associated tightening of monetary conditions will continue to play GBP positive.
GBP/JPY Levels
The 20 DMA is 158.40, the 50 DMA is 157.95 and the 200 DMA is 151.75. RSI (14) reads 49.81. Supports are ascending from 159.65, 160.00, 160.45, and 160.75. Spot is currently 161.14 while resistances are 161.65, 162.00, 162.45, 162.60 and 163.05.