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9 Jan 2014
GBP/JPY testing the ascending support line
FXstreet.com (Guatemala) - GBP/JPY is gradually drifting to the upside after a slide from 173.10 to 172.55.
With USD/JPY failing to break above 105.00, despite better ADP numbers and US yields trading back above 3% post the FOMC minutes, GBP/JPY is also suffering in the absence of support coming from Sterling which is currently offered post pretty benign data releases. While The Bank of England left unchanged its official rate at 0.5% and the size of its Asset Purchase Programme at GBP 375 billion as expected, the US Jobless Claims come out pretty much as expected at 330k vs 335k consensus while Continuing Jobless Claims disappointed at 2.865m vs 2.840m consensus.
GBP/JPY Levels
The 20 DMA is 171.10, the 50 DMA is 166.25 and the 200 DMA is 156.65. RSI (14) reads 58.51. Supports are ascending from 170.40, 170.80, 171.20 and
171.85. Spot is 172.63 while resistances 172.85, 173.65, 173.95 and 174.85.
With USD/JPY failing to break above 105.00, despite better ADP numbers and US yields trading back above 3% post the FOMC minutes, GBP/JPY is also suffering in the absence of support coming from Sterling which is currently offered post pretty benign data releases. While The Bank of England left unchanged its official rate at 0.5% and the size of its Asset Purchase Programme at GBP 375 billion as expected, the US Jobless Claims come out pretty much as expected at 330k vs 335k consensus while Continuing Jobless Claims disappointed at 2.865m vs 2.840m consensus.
GBP/JPY Levels
The 20 DMA is 171.10, the 50 DMA is 166.25 and the 200 DMA is 156.65. RSI (14) reads 58.51. Supports are ascending from 170.40, 170.80, 171.20 and
171.85. Spot is 172.63 while resistances 172.85, 173.65, 173.95 and 174.85.