31 Jan 2014
GBP/JPY steadier with a bullish bias
FXstreet.com (Guatemala) - The UK didn’t impress very much earlier from the calendar in Europe and recent dovishness from Carney but still the pair is supported.
The UK got a drop in Mortgage Approvals in December compared to the consensus with 71.638k coming in against 73.000k expected. Consumer Credit in December also disappointed £0.6B to the consensus of £0.7B. The price action in GBP/JPY had been related to EM’s weakening but Sterling faired well overall.
GBP/JPY Levels
The 20 DMA is 171.20, the 50 DMA is 169.80 and the 200 DMA is 158.15. RSI (14) reads 42.40. Supports are ascending 166.60, 167.55, 167.80, 168.70. Spot is 169.48 while resistances are 171.45, 172.30, 172.80 and 173.65.
The UK got a drop in Mortgage Approvals in December compared to the consensus with 71.638k coming in against 73.000k expected. Consumer Credit in December also disappointed £0.6B to the consensus of £0.7B. The price action in GBP/JPY had been related to EM’s weakening but Sterling faired well overall.
GBP/JPY Levels
The 20 DMA is 171.20, the 50 DMA is 169.80 and the 200 DMA is 158.15. RSI (14) reads 42.40. Supports are ascending 166.60, 167.55, 167.80, 168.70. Spot is 169.48 while resistances are 171.45, 172.30, 172.80 and 173.65.