11 Apr 2014
GBP/JPY supported as Yen consolidates the supply
FXStreet (Guatemala) - Currently, GBP/JPY is trading at 170.21, down -0.10% on the day, having posted a daily high at 170.51 and low at 170.21.
GBP/JPY has been free-falling from 171.60 at the end of the week and is consolidating here on 170.20 wile the Yen has been collecting the bids from the table in the FX space this week. Meanwhile, Strategists at TD Securities explained that the week ahead is heavy on UK data. “The week ahead is heavy on UK data. With CPI and a labour market report, which should show a continuation of the recent trend of lower inflation and a tighter labour market”.
GBP/JPY Levels
Spot is presently trading at 170.25, and next resistance can be seen at 170.37 (Weekly Classic S1), 170.42 (Daily Open), 170.42 (Weekly Low), 170.49 (Hourly 20 EMA) and 170.51 (Daily High). Next support to the downside can be found at 170.21 (Daily Low), 170.13 (Daily Classic S2), 170.08 (Yesterday's Low), 169.81 (Daily Classic S3) and 169.80 (Daily 100 SMA).
GBP/JPY has been free-falling from 171.60 at the end of the week and is consolidating here on 170.20 wile the Yen has been collecting the bids from the table in the FX space this week. Meanwhile, Strategists at TD Securities explained that the week ahead is heavy on UK data. “The week ahead is heavy on UK data. With CPI and a labour market report, which should show a continuation of the recent trend of lower inflation and a tighter labour market”.
GBP/JPY Levels
Spot is presently trading at 170.25, and next resistance can be seen at 170.37 (Weekly Classic S1), 170.42 (Daily Open), 170.42 (Weekly Low), 170.49 (Hourly 20 EMA) and 170.51 (Daily High). Next support to the downside can be found at 170.21 (Daily Low), 170.13 (Daily Classic S2), 170.08 (Yesterday's Low), 169.81 (Daily Classic S3) and 169.80 (Daily 100 SMA).