30 Aug 2013
GBP/JPY, limited at 152.50
FXstreet.com (Chicago) - GBP/JPY continues hovering around immediate support at 152.43 (August 14th highs) after attempting to extend bullish momentum on attempt to recover 0.80% in losses incurred this week. The pair reached 152.50 momentarily on Gfk data but failed to maintain levels after the Nomura/JMMA Manufacturing Purchasing Manager Index was released in Japan.
It is a No
Besides the Prime Minister David Cameron’s loss of symbolic vote at the House of Commons for military strike in Syria, the BoE’s Carney comments make the headlines. As reported by Reuters, the bank will continue providing stimulus until the economy reaches self-sustaining growth. The Gfk Consumer Confidence index was -13 vs. previous -16 and estimates at -14, fueling the pair to rise above immediate resistance. Price action also reveals a stronger pound compared to a yen that weakened throughout the day after the diminution of concerns regarding Syria eased off after having driven market participants to hedge risk with a “safe haven” currency.
Japanese economy improving?
In Japan, the Nomura/JMMA Manufacturing Purchasing Manager Index for August was 52.2 compared to a previous 0.2%. The National Consumer Price Index, the National CPI ex food, energy indexes along overall household spending and the Tokyo consumer price indexes are expected today. Moreover, unemployment rate and industrial production are to be released later on.
GBP/JPY Technical Levels
Technically speaking, the pair trades at 152.45 ahead of immediate support at 152.43 (August 14th highs) followed by 152.17 (August 21st lows) and 151.90 (August 19th lows) and resistances at 152.66 (August 20th highs), 152.93 (August 22nd lows) followed by 153.24 (August 26th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.
It is a No
Besides the Prime Minister David Cameron’s loss of symbolic vote at the House of Commons for military strike in Syria, the BoE’s Carney comments make the headlines. As reported by Reuters, the bank will continue providing stimulus until the economy reaches self-sustaining growth. The Gfk Consumer Confidence index was -13 vs. previous -16 and estimates at -14, fueling the pair to rise above immediate resistance. Price action also reveals a stronger pound compared to a yen that weakened throughout the day after the diminution of concerns regarding Syria eased off after having driven market participants to hedge risk with a “safe haven” currency.
Japanese economy improving?
In Japan, the Nomura/JMMA Manufacturing Purchasing Manager Index for August was 52.2 compared to a previous 0.2%. The National Consumer Price Index, the National CPI ex food, energy indexes along overall household spending and the Tokyo consumer price indexes are expected today. Moreover, unemployment rate and industrial production are to be released later on.
GBP/JPY Technical Levels
Technically speaking, the pair trades at 152.45 ahead of immediate support at 152.43 (August 14th highs) followed by 152.17 (August 21st lows) and 151.90 (August 19th lows) and resistances at 152.66 (August 20th highs), 152.93 (August 22nd lows) followed by 153.24 (August 26th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.