15 Jan 2014
GBP/JPY climbing back some ground
FXstreet.com (Guatemala) - GBP/JPY is breaching back onto the 171 handle and moving in on 171.20.
GBP/JPY is benefitting from a broadly stronger dollar after Plosser , Lockhart and latterly Evans at the Federal Reserve all gave us the impression that despite a poor payrolls number, this will not be deterring their intentions to continue tapering at the current pace. Meanwhile, the pair is recovering back towards the mid point of the decline from the 173 handle and remains decisively bid while Sterling is recovering some of the ground lost since dropping through 1.6400 towards 1.6320.
GBP/JPY Levels
The 20 DMA is 171.75, the 50 DMA is 167.35 and the 200 DMA is 157.10. RSI (14) reads 54.95. Supports are ascending from 167.55, 168.35, 169.20 170.10. Spot is 171.11 while resistances are coming in at 171.70, 172.20, 172.75 and 173.15.
GBP/JPY is benefitting from a broadly stronger dollar after Plosser , Lockhart and latterly Evans at the Federal Reserve all gave us the impression that despite a poor payrolls number, this will not be deterring their intentions to continue tapering at the current pace. Meanwhile, the pair is recovering back towards the mid point of the decline from the 173 handle and remains decisively bid while Sterling is recovering some of the ground lost since dropping through 1.6400 towards 1.6320.
GBP/JPY Levels
The 20 DMA is 171.75, the 50 DMA is 167.35 and the 200 DMA is 157.10. RSI (14) reads 54.95. Supports are ascending from 167.55, 168.35, 169.20 170.10. Spot is 171.11 while resistances are coming in at 171.70, 172.20, 172.75 and 173.15.