30 Aug 2013
GBP/JPY dips below 152.00 zone
FXstreet.com (Chicago) - GBP/JPY was unable to resist bearish pressure and fell below key psychological support at 152.00. The pair accumulates 0.33% losses so far.
Red closings
The Nikkei 225 closed down 0.53% while the FTSE 100 lost 1.08%. After Prime Minister David Cameron lost a symbolic vote of confidence at the House of Commons to attack Syria and back up the United States, the American country stated its action against the Middle Eastern country will be minimal. In the UK, nationwide housing prices (YoY) were 3.5% vs. previous 3.9%. Consumer credit was 0.6B, matching expectations while the M4 money supply was 1.8% vs. previous -0.1% (YoY). Mortgage approvals were 60.624K vs. previous 58.238K and expected 59K. Finally, net lending for individuals was 1.3B vs. expected 1.1B and previous 1B. In Japan, the Ministry of the Economy, Amari, said last night’s results invite for a debate on the planned tax hike for corporations as the organizations is traversing the deflation phase.
GBP/JPY Technical Levels
Technically speaking, the pair bounced off 151.67 lows (Fib. Retracement from August 28th peaks) and recovered 152.00 zone. The pair is now offered at 151.97 between supports at 151.90 (August 28th highs), 151.63 (August 20th lows) ahead of 151.34 (August 15th lows) and resistances at 152.17 (August 18th lows), 152.43 (August 21st lows) followed by 152.66 (August 20th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis.
Red closings
The Nikkei 225 closed down 0.53% while the FTSE 100 lost 1.08%. After Prime Minister David Cameron lost a symbolic vote of confidence at the House of Commons to attack Syria and back up the United States, the American country stated its action against the Middle Eastern country will be minimal. In the UK, nationwide housing prices (YoY) were 3.5% vs. previous 3.9%. Consumer credit was 0.6B, matching expectations while the M4 money supply was 1.8% vs. previous -0.1% (YoY). Mortgage approvals were 60.624K vs. previous 58.238K and expected 59K. Finally, net lending for individuals was 1.3B vs. expected 1.1B and previous 1B. In Japan, the Ministry of the Economy, Amari, said last night’s results invite for a debate on the planned tax hike for corporations as the organizations is traversing the deflation phase.
GBP/JPY Technical Levels
Technically speaking, the pair bounced off 151.67 lows (Fib. Retracement from August 28th peaks) and recovered 152.00 zone. The pair is now offered at 151.97 between supports at 151.90 (August 28th highs), 151.63 (August 20th lows) ahead of 151.34 (August 15th lows) and resistances at 152.17 (August 18th lows), 152.43 (August 21st lows) followed by 152.66 (August 20th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis.