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24 Feb 2014
GBP/JPY flat below 171.00
FXStreet (Córdoba) - The GBP/JPY opened the week around 170.50, fell to 170.35 and afterwards moved to the upside reaching a daily high at 170.75.
At the moment of writing trades at 170.62, flat for the day as stock in Japan erased losses. The Nikkei 225 is up 0.43%, after opening in negative territory. Price action could remain limited during the Asian session amid low volume and lack of new economic information.
Capre warns about a daily close below 169
Chris Capre, founder at 2ndSkies points out that if bulls can make a clear break above 171.90, then 173.15 and 175 will gain attention. “Watch the daily 20EMA and dynamic support for clues, as a daily close below 169 might trigger more selling”.
At the moment of writing trades at 170.62, flat for the day as stock in Japan erased losses. The Nikkei 225 is up 0.43%, after opening in negative territory. Price action could remain limited during the Asian session amid low volume and lack of new economic information.
Capre warns about a daily close below 169
Chris Capre, founder at 2ndSkies points out that if bulls can make a clear break above 171.90, then 173.15 and 175 will gain attention. “Watch the daily 20EMA and dynamic support for clues, as a daily close below 169 might trigger more selling”.