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27 Feb 2014
GBP/JPY licking wounds back to mid 170’s
FXStreet (Guatemala) - GBP/JPY has settled in on 170.60 consolidating up to 170.80 after a turbulent time of a day in the US session.
GBP/JPY was taken lower down to and through the handle touching a low momentarily of 169.94 before finding a bounce and rallied up to current levels. Caught in the cross-fire of overnight events resulted in the volatility. The dollar was the catalyst through Sterling and the Yen while risk averse markets took the dollar higher personified in the better looking data in the form of US New Home Sales. The calendar is light until the end of the weeks data from Japan the US.
GBP/JPY Levels
The 20 DMA is 168.90, the 50 DMA is 170.45 and the 200 DMA is 159.55. RSI (14) reads 57.60. Supports are ascending from 168.30, 168.60, 169.10 and 169.90. Spot is 170.70 while resistances are 171.85, 172.30, 173.65
and 173.95.
GBP/JPY was taken lower down to and through the handle touching a low momentarily of 169.94 before finding a bounce and rallied up to current levels. Caught in the cross-fire of overnight events resulted in the volatility. The dollar was the catalyst through Sterling and the Yen while risk averse markets took the dollar higher personified in the better looking data in the form of US New Home Sales. The calendar is light until the end of the weeks data from Japan the US.
GBP/JPY Levels
The 20 DMA is 168.90, the 50 DMA is 170.45 and the 200 DMA is 159.55. RSI (14) reads 57.60. Supports are ascending from 168.30, 168.60, 169.10 and 169.90. Spot is 170.70 while resistances are 171.85, 172.30, 173.65
and 173.95.