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13 Sep 2013
GBP/JPY testing ascending support line
FXstreet.com (London) - GBP/JPY is offered, testing ascending support line from 156.80 as of yesterday.
Sterling had performed well yesterday after the unemployment rate dropped to 7.7% in August from 7.8% (nearer the BoE’s 7% “threshold”). For this week, “Sterling gains perhaps more sustainable on the crosses (EUR) than versus the USD as the Fed nears its tapering” explained research teams at TD Securities. Earlier, construction output was slightly stronger than consensus expectations, showing a 2.2% M/M rise in July. Despite a downward revision to June data, Q2 as a whole was revised higher, although not enough to have any real impact on GDP.
GBP/JPY levels
The 20 DMA is 154.45, the 50 DMA is 152.40 and the 200 DMA is 147.90. RSI (14) reads 60.69. Supports are ascending from 155.20, 155.50, 156.20, 156.65. Spot is currently 157.50 while resistances are coming in at 158.20, 158.90, 160.40 and 161.40.
Sterling had performed well yesterday after the unemployment rate dropped to 7.7% in August from 7.8% (nearer the BoE’s 7% “threshold”). For this week, “Sterling gains perhaps more sustainable on the crosses (EUR) than versus the USD as the Fed nears its tapering” explained research teams at TD Securities. Earlier, construction output was slightly stronger than consensus expectations, showing a 2.2% M/M rise in July. Despite a downward revision to June data, Q2 as a whole was revised higher, although not enough to have any real impact on GDP.
GBP/JPY levels
The 20 DMA is 154.45, the 50 DMA is 152.40 and the 200 DMA is 147.90. RSI (14) reads 60.69. Supports are ascending from 155.20, 155.50, 156.20, 156.65. Spot is currently 157.50 while resistances are coming in at 158.20, 158.90, 160.40 and 161.40.