22 Oct 2013
GBP/JPY where will supply come in?
FXstreet.com (London) - GBP/JPY has benefited on a day where Yen has been caught in a tug of war, losing the battle vs the dollar.
USD/JPY was first offered in a dramatic slide on the release of a poor NFP’s number from the US, dropping 40 pips initially and then gaining 70 pips while GBP has kept its form on the numbers and remains bid against the US dollar within 1.62 territory. With the news digested now in NA, levels in Sterling currently indicate that the pair may find resistance ahead of the recent highs in 1.6220 which may leave the cross open to offers while in catch up mode across USD/JPY.
GBP/JPY Levels
The 20 DMA is 157.55, the 50 DMA is 156.10 and the 200 DMA is 150.50. RSI (14) reads 78.18. Supports are ascending from 157.10, 158.00, 158.50 and 158.85. Spot is 159.35 while resistances are 160.00 and 160.40.
USD/JPY was first offered in a dramatic slide on the release of a poor NFP’s number from the US, dropping 40 pips initially and then gaining 70 pips while GBP has kept its form on the numbers and remains bid against the US dollar within 1.62 territory. With the news digested now in NA, levels in Sterling currently indicate that the pair may find resistance ahead of the recent highs in 1.6220 which may leave the cross open to offers while in catch up mode across USD/JPY.
GBP/JPY Levels
The 20 DMA is 157.55, the 50 DMA is 156.10 and the 200 DMA is 150.50. RSI (14) reads 78.18. Supports are ascending from 157.10, 158.00, 158.50 and 158.85. Spot is 159.35 while resistances are 160.00 and 160.40.