26 Sep 2013
GBP/JPY driven higher on USD/JPY demand
FXstreet.com (London) - GBP/JPY has formed a head and shoulders and is currently printing 158.53.
The GPIF press conference didn’t bring the market anything new. USD/JPY was the driver when markets covered back positioning in the pair with steady demand coming in from the US session on the Lacker October Taper comment. Prior, a slightly disappointing GDP number was coming in from the UK of 1.3% vs 1.5%.
GBP/JPY Levels
The 20 DMA is 157.00, the 50 DMA is 153.80 and the 200 DMA is 148.95. RSI (14) reads 51.99. Supports are ascending from 156.65, 157.00, 157.35, and 157.95. Spot is currently 158.56 while resistances are 159.10, 159.70, 158.60, while resistances are 160.40 and 161.40.
The GPIF press conference didn’t bring the market anything new. USD/JPY was the driver when markets covered back positioning in the pair with steady demand coming in from the US session on the Lacker October Taper comment. Prior, a slightly disappointing GDP number was coming in from the UK of 1.3% vs 1.5%.
GBP/JPY Levels
The 20 DMA is 157.00, the 50 DMA is 153.80 and the 200 DMA is 148.95. RSI (14) reads 51.99. Supports are ascending from 156.65, 157.00, 157.35, and 157.95. Spot is currently 158.56 while resistances are 159.10, 159.70, 158.60, while resistances are 160.40 and 161.40.