15 Apr 2014
GBP/JPY is paralyzed close to the opening level of 170.25
FXStreet (Moscow) - GBP/JPY touched the Asian high at 170.49 and returned to opening level at 170.25 on quiet Asian trading.
Big macro day for GBP
Heaps of tier-1 economic reports from UK today! CPI, PPI, retail sales, ONS house price data - all of them might influence the GBP sentiments today. It is expected that headline inflation will drop to another multi-year low 1.5% y/y, and dampen the early rate hike expectations. This is going to be negative for the British currency and push GBP/JPY lower, though on the intraday basis the downside is likely to be limited by yesterday’s low at 169.56, while the cross will enter the short-term consolidation mode if it stays above 170.00 on daily close.
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 170.17, with support below at 169.80, 169.21, and 168.84, with resistance above at 170.75, 171.12 and 171.71. Hourly Moving Averages are mixed, with the 200SMA at 171.15 and the daily 20EMA at 170.63. Hourly RSI is bullish at 57.
Big macro day for GBP
Heaps of tier-1 economic reports from UK today! CPI, PPI, retail sales, ONS house price data - all of them might influence the GBP sentiments today. It is expected that headline inflation will drop to another multi-year low 1.5% y/y, and dampen the early rate hike expectations. This is going to be negative for the British currency and push GBP/JPY lower, though on the intraday basis the downside is likely to be limited by yesterday’s low at 169.56, while the cross will enter the short-term consolidation mode if it stays above 170.00 on daily close.
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 170.17, with support below at 169.80, 169.21, and 168.84, with resistance above at 170.75, 171.12 and 171.71. Hourly Moving Averages are mixed, with the 200SMA at 171.15 and the daily 20EMA at 170.63. Hourly RSI is bullish at 57.