1 May 2014
GBP/JPY longs for new triggers
FXStreet (Moscow) - GBP/JPY is sitting at the opening level of 172.60 after moving to Asian low of 172.38.
Another shot of GBP optimism on cards
GBP/JPY finished Wednesday unchanged after a short-lived drop below 172.00 (intraday low is set at 171.96). The cross reversed early losses due to GBP growth against USD on the back of rather gloomy US macro statistics. Today we may have another volatile day as the calendar is packed with first tier UK reports such as Nationwide House Price, consumer credit, mortgage approvals and PMI in manufacturing to name just a few. The news is expected to be broadly positive for the British currency that may spike to 173.00 resistance level. The setbacks are likely to be limited by 172.30.
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 172.41, with support below at 171.96, 171.41, and 170.97, with resistance above at 172.95, 173.39 and 173.94. Hourly Moving Averages are bullish, with the 200SMA at 172.21 and the daily 20EMA at 171.68. Hourly RSI is bullish at 57.
Another shot of GBP optimism on cards
GBP/JPY finished Wednesday unchanged after a short-lived drop below 172.00 (intraday low is set at 171.96). The cross reversed early losses due to GBP growth against USD on the back of rather gloomy US macro statistics. Today we may have another volatile day as the calendar is packed with first tier UK reports such as Nationwide House Price, consumer credit, mortgage approvals and PMI in manufacturing to name just a few. The news is expected to be broadly positive for the British currency that may spike to 173.00 resistance level. The setbacks are likely to be limited by 172.30.
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 172.41, with support below at 171.96, 171.41, and 170.97, with resistance above at 172.95, 173.39 and 173.94. Hourly Moving Averages are bullish, with the 200SMA at 172.21 and the daily 20EMA at 171.68. Hourly RSI is bullish at 57.