28 Sep 2015
GBP/JPY: bearish bias below pivot
FXStreet (Guatemala) - GBP/JPY is currently trading at 181.80 with a high of 183.36 and a low of 181.64.
GBP/JPY is following suit of the Yen cross (except EUR/JPY), trading at a loss on the day and below key technical levels as equities remain in a bearish trend with the pound losing ground below the 200 DMA in the last trading week of the month as markets begin to discount the idea of an early hike from the BoE for now. We have Carney speaking tomorrow as part of the line up for the cross on the calendar as well as UK later on in the week.
GBP/JPY levels
Technically, the cross is moving south with momentum indicators below their mid-lines and RSI (14) has room to go until oversold readings. The next support comes as 181.63 and 180.60 while trading below the pivot of 183.41. Above the pivot, resistances are 184.15/92.
GBP/JPY is following suit of the Yen cross (except EUR/JPY), trading at a loss on the day and below key technical levels as equities remain in a bearish trend with the pound losing ground below the 200 DMA in the last trading week of the month as markets begin to discount the idea of an early hike from the BoE for now. We have Carney speaking tomorrow as part of the line up for the cross on the calendar as well as UK later on in the week.
GBP/JPY levels
Technically, the cross is moving south with momentum indicators below their mid-lines and RSI (14) has room to go until oversold readings. The next support comes as 181.63 and 180.60 while trading below the pivot of 183.41. Above the pivot, resistances are 184.15/92.