6 Mar 2014
GBP/JPY back in positive territory
FXStreet (Guatemala) - GBP/JPY has scored a high and is approaching the mid point on the 171 handle.
Risk is seeking the yields again and the JPY is suffering as a result. Traders are comfortable that the BoE will remain with current policy and there will not be need of an accompanying statement of any sort. With the USD on the back foot post some poorer data today and less tensions around Ukraine, cable has managed to push higher and the cross is benefitting from a lackluster range bound USD/JPY.
GBP/JPY Levels
The 20 DMA is 169.60, the 50 DMA is 170.45 and the 200 DMA is 159.95. RSI (14) reads 67.86. Supports are ascending from 167.90, 168.30, 168.70, 169.65, and 171.00. Spot is 171.29, while resistances are 171.85, 172.30 and 172.80.
Risk is seeking the yields again and the JPY is suffering as a result. Traders are comfortable that the BoE will remain with current policy and there will not be need of an accompanying statement of any sort. With the USD on the back foot post some poorer data today and less tensions around Ukraine, cable has managed to push higher and the cross is benefitting from a lackluster range bound USD/JPY.
GBP/JPY Levels
The 20 DMA is 169.60, the 50 DMA is 170.45 and the 200 DMA is 159.95. RSI (14) reads 67.86. Supports are ascending from 167.90, 168.30, 168.70, 169.65, and 171.00. Spot is 171.29, while resistances are 171.85, 172.30 and 172.80.