24 Oct 2013
GBP/JPY on EMA20 at 157.60
FXstreet.com (Chicago) - GBP/JPY bounced off from 157.18 session lows to then reach 157.92 session highs, retracing around 157.60 front (23.6% Fibonacci level).
Foreign investment in Japanese stocks and bonds surprised positively on earlier data releases.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.59 and oscillates between the supports aligned at 156.85 (October 14th lows), 156.18 (October 7th highs) ahead of 155.39 (October 14th lows) and the resistances set at 158 (October 15th highs), 158.78 (October 19th highs) followed by 159.28 (October 22nd highs). After breaking the upward trendline on yesterday’s fall, the pair spikes to 157.92 to quickly retrace around the 157.60 zone. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis on a neutral EMA20.
Foreign investment in Japanese stocks and bonds surprised positively on earlier data releases.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.59 and oscillates between the supports aligned at 156.85 (October 14th lows), 156.18 (October 7th highs) ahead of 155.39 (October 14th lows) and the resistances set at 158 (October 15th highs), 158.78 (October 19th highs) followed by 159.28 (October 22nd highs). After breaking the upward trendline on yesterday’s fall, the pair spikes to 157.92 to quickly retrace around the 157.60 zone. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis on a neutral EMA20.