31 Oct 2013
GBP/JPY aims for 158 front
FXstreet.com (Chicago) - GBP/JPY seems relentless to continue falling dragged by bearish pressure and attempts to consolidate above the 157.90 front.
The Nomura/JMMM manufacturing purchasing manager index was recently published at 54.2 vs. past 52.5. Housing data will be released in the UK later on.
GBP/JPY Technical Levels
Technically speaking, the pair seems to consolidate a potential reversal after retracement from the 158 zone. Offered at 157.90, the pair oscillates between the supports aligned at 157.62 (October 24th highs), 157.15 (October 24th lows) ahead of 156.64 (October 28th lows) and the resistances aligned at 158 (October 25th highs), 158.34 (October 17th highs) followed by 158.74 (October 20th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis above the EMA20.
The Nomura/JMMM manufacturing purchasing manager index was recently published at 54.2 vs. past 52.5. Housing data will be released in the UK later on.
GBP/JPY Technical Levels
Technically speaking, the pair seems to consolidate a potential reversal after retracement from the 158 zone. Offered at 157.90, the pair oscillates between the supports aligned at 157.62 (October 24th highs), 157.15 (October 24th lows) ahead of 156.64 (October 28th lows) and the resistances aligned at 158 (October 25th highs), 158.34 (October 17th highs) followed by 158.74 (October 20th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis above the EMA20.