23 Jan 2014
GBP/JPY failing in a weaker dollar
FXstreet.com (Guatemala) - GBP/JPY is more of a USD/JPY story. The pair is down with a collapse through USD/JPY.
Despite GBP/USD posting a two and half year high when it rallied from the off this morning in Europe on a softer dollar due to Fishers comments that we were some way off from raising rates, GBP/JPY has shed over a big figure while USD/JPY failed to hold up. USD/JPY fell from 104.40 to reach a low in the 103.50’s. RSI (14) is reading well blow 30 and the pair is consolidating currently in the 103.50’s post a series of overall dollar bearish data from the US.
GBP/JPY Levels
The 20 DMA is 172.05, the 50 DMA is 168.90 and the 200 DMA is 157.70. RSI (14) reads 20.31. Supports are ascending from 170.70, 171.10 and 171.25. Spot is 171.90 while resistances are 172.40, 173.95, 174.55, 174.85 and 175.60.
Despite GBP/USD posting a two and half year high when it rallied from the off this morning in Europe on a softer dollar due to Fishers comments that we were some way off from raising rates, GBP/JPY has shed over a big figure while USD/JPY failed to hold up. USD/JPY fell from 104.40 to reach a low in the 103.50’s. RSI (14) is reading well blow 30 and the pair is consolidating currently in the 103.50’s post a series of overall dollar bearish data from the US.
GBP/JPY Levels
The 20 DMA is 172.05, the 50 DMA is 168.90 and the 200 DMA is 157.70. RSI (14) reads 20.31. Supports are ascending from 170.70, 171.10 and 171.25. Spot is 171.90 while resistances are 172.40, 173.95, 174.55, 174.85 and 175.60.