21 Aug 2013
GBP/JPY soared above 153.60 zone; maintains fronts at 153.40
FXstreet.com (Chicago) - GBP/JPY reached 4-week highs at 153.63 after the release of the FOMC minutes in the US. Speculators were looking for clues for Fed’s tapering but little confirmation provided clear data to confirm hypothesis.
Inappropriate changes, world on hold
The pound strengthened against most currency majors reaching intraday highs against the yen after the markets discounted speculations on Fed’s tapering and the US economic recovery. “Modest” labor recoveries were still to be made, leading investors to react and strengthen bullish sentiment towards the pound.
Technical Levels
Ahead of foreign investment data in Japan and GBP data in the UK, the pair trades at 153.42 between supports at 153.22, 152.96 and 152.65 and resistances at 153.60, 153.81 and 154.00. According to the FXstreet.com trend index the pair is slightly bullish on one-hour timeframe analysis being offered above the EMA20.
Inappropriate changes, world on hold
The pound strengthened against most currency majors reaching intraday highs against the yen after the markets discounted speculations on Fed’s tapering and the US economic recovery. “Modest” labor recoveries were still to be made, leading investors to react and strengthen bullish sentiment towards the pound.
Technical Levels
Ahead of foreign investment data in Japan and GBP data in the UK, the pair trades at 153.42 between supports at 153.22, 152.96 and 152.65 and resistances at 153.60, 153.81 and 154.00. According to the FXstreet.com trend index the pair is slightly bullish on one-hour timeframe analysis being offered above the EMA20.