20 Mar 2014
GBP/JPY scrambling back for 169 handle
FXStreet (Guatemala) - FXStreet (Guatemala) - GBP/JPY has been attempting to regain the 169 handle but is losing any sense of conviction in the process, currently oscillating below at 168.89.
Overnight, the yen got a lift when BOJ's Kuroda explained that Japan was moving steadily toward 2% inflation target. Meanwhile, nothing much from the calendar for the cross in earlier trading, except a slice o f the action came with the UK’s CBI Industrial Trends Survey - Orders (MoM) (Mar) that lifted the pound with a rise to 6 vs 5 consensus and 3 on previous.
GBP/JPY Levels
The 20 DMA is 170.40, the 50 DMA is 170.00 and the 200 DMA is 161.00. RSI (14) reads 47.78. Supports are ascending from 166.80, 167.20, and 167.80. Spot is 168.90 while resistances are169.15, 169.40, 170.55, 171.60, 172.10 and 172.85.
Overnight, the yen got a lift when BOJ's Kuroda explained that Japan was moving steadily toward 2% inflation target. Meanwhile, nothing much from the calendar for the cross in earlier trading, except a slice o f the action came with the UK’s CBI Industrial Trends Survey - Orders (MoM) (Mar) that lifted the pound with a rise to 6 vs 5 consensus and 3 on previous.
GBP/JPY Levels
The 20 DMA is 170.40, the 50 DMA is 170.00 and the 200 DMA is 161.00. RSI (14) reads 47.78. Supports are ascending from 166.80, 167.20, and 167.80. Spot is 168.90 while resistances are169.15, 169.40, 170.55, 171.60, 172.10 and 172.85.