5 Mar 2014
GBP/JPY remains on 170.00, buoyed on risk on
FXStreet (Guatemala) - FXStreet (Guatemala) - GBP/JPY has benefitted over night on the risk on approach from markets that were relieved somewhat of the tensions in Ukraine and traders were seeking the higher return.
Meanwhile, Analysts at TD Securities explained that the BoJ Governor Kuroda extended an open invitation to short the JPY and buy higher yielding currencies today by telling the Japanese parliament that there was momentum behind the yen carry trade.
GBP/JPY Levels
The 20 DMA is 169.35, the 50 DMA is 170.45 and the 200 DMA is 159.90. RSI (14) reads 39.73. supports are ascending from 167.55, 167.90, 168.30, and 168.70. Spot is 170.28 while resistances are 170.60, 171.20,171.85 and 172.80.
Meanwhile, Analysts at TD Securities explained that the BoJ Governor Kuroda extended an open invitation to short the JPY and buy higher yielding currencies today by telling the Japanese parliament that there was momentum behind the yen carry trade.
GBP/JPY Levels
The 20 DMA is 169.35, the 50 DMA is 170.45 and the 200 DMA is 159.90. RSI (14) reads 39.73. supports are ascending from 167.55, 167.90, 168.30, and 168.70. Spot is 170.28 while resistances are 170.60, 171.20,171.85 and 172.80.