26 May 2014
GBP/JPY is a quiet start, BoJ offered no surprises
FXStreet (Guatemala) - GBP/JPY is trading at 171.61, up 0.02% on the day, having posted a daily high at 171.83 and low at 171.46.
The BoJ offered no surprises in their minutes earlier and they expect that the economy is likely to grow above potential from the summer. The UK is on holiday today so we are not expecting it to be a busy session at the start of this week for the pair. Meanwhile, “analysts at Rabobank noted that sterling bulls were encouraged last week by signs that some members of the BoE’s MPC were becoming less dovish. “The pound also took encouragement from the coincident news of a Easter spending splurge on UK high streets…the better data from the UK economy has allowed sterling to outperform all other developed world currencies over the past 12 mths. Even though there is a lot of good news in the price we expect sterling to remain well supported
GBP/JPY Levels
Spot is presently trading at 171.65, and next resistance can be seen at 171.81 (Yesterday's High), 171.83 (Daily High), 171.86 (Daily Classic R1), 172.10 (Daily Classic R2) and 172.39 (Daily Classic R3). Next support to the downside can be found at 171.64 (Weekly High), 171.63 (Daily Open), 171.57 (Hourly 20 EMA), 171.56 (Daily Classic PP) and 171.51 (Daily 20 SMA).
The BoJ offered no surprises in their minutes earlier and they expect that the economy is likely to grow above potential from the summer. The UK is on holiday today so we are not expecting it to be a busy session at the start of this week for the pair. Meanwhile, “analysts at Rabobank noted that sterling bulls were encouraged last week by signs that some members of the BoE’s MPC were becoming less dovish. “The pound also took encouragement from the coincident news of a Easter spending splurge on UK high streets…the better data from the UK economy has allowed sterling to outperform all other developed world currencies over the past 12 mths. Even though there is a lot of good news in the price we expect sterling to remain well supported
GBP/JPY Levels
Spot is presently trading at 171.65, and next resistance can be seen at 171.81 (Yesterday's High), 171.83 (Daily High), 171.86 (Daily Classic R1), 172.10 (Daily Classic R2) and 172.39 (Daily Classic R3). Next support to the downside can be found at 171.64 (Weekly High), 171.63 (Daily Open), 171.57 (Hourly 20 EMA), 171.56 (Daily Classic PP) and 171.51 (Daily 20 SMA).