24 Oct 2013
GBP/JPY remains soft
FXstreet.com (London) - GBP/JPY remains soft after the china news and subsequent tumble that was accompanied by a big sell order in cable while the Yen was the main benefactor on risk aversion.
In USD/JPY, the pair has held onto 97.00 and for now remains well contained Ultimately, for now we are contained to a 97.00-98.00 range although the Yen crosses have done better overnight and GBP/JPY managed a high of 158.20. Meanwhile and up later we will have Carney speaking and then markets will get UK GDP tomorrow.
GBP/JPY Levels
The 20 DMA is 157.45, the 50 DMA is 156.35 and the 200 DMA is 150.60. RSI (14) reads 48.48. supports are ascending from 155.50, 155.85, 156.45 and 156.85. Spot currently reads 157.47 while resistances are 158.00, 158.75, 159.55 and 160.00.
In USD/JPY, the pair has held onto 97.00 and for now remains well contained Ultimately, for now we are contained to a 97.00-98.00 range although the Yen crosses have done better overnight and GBP/JPY managed a high of 158.20. Meanwhile and up later we will have Carney speaking and then markets will get UK GDP tomorrow.
GBP/JPY Levels
The 20 DMA is 157.45, the 50 DMA is 156.35 and the 200 DMA is 150.60. RSI (14) reads 48.48. supports are ascending from 155.50, 155.85, 156.45 and 156.85. Spot currently reads 157.47 while resistances are 158.00, 158.75, 159.55 and 160.00.