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19 Feb 2014
GBP/JPY is on the bak foot ahead of BOJ monthly report
FXStreet (Moscow) - GBP/JPYis under slight downside pressure in Asia as anti-risk sentiments drive the Japanese currency higher across the board, The cross has moved to the intraday low of 170.41 but quickly returned to the current levels of 170.65.
GBP/JPY is the servant of two masters
GBP/JPY is torn in halves as JPY weakening across the board is pushing the cross higher, while GBP woes caused by lower than expected CPI numbers are pulling it down. Today the situation is going to be pretty much the same as we have BOJ monthly report on one side and UK labor data coupled with ИЩУ minutes on the other side. Considering the fact that BOJ extended its pro-growth loan facilities to support the economy, today’s report will be searched carefully for the hints about economic risks and threats. Dovish tone will trigger another wave of JPY selling across the board and the cross may have another try at 171.00. The support comes at 170.40 and followed by 170.00.
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 170.94, with support below at 169.97, 169.25, and 168.59, with resistance above at 171.66, 172.63 and 173.34. Hourly Moving Averages are mixed, with the 200SMA at 169.09 and the daily 20EMA at 169.34. Hourly RSI is neutral at 44.
GBP/JPY is the servant of two masters
GBP/JPY is torn in halves as JPY weakening across the board is pushing the cross higher, while GBP woes caused by lower than expected CPI numbers are pulling it down. Today the situation is going to be pretty much the same as we have BOJ monthly report on one side and UK labor data coupled with ИЩУ minutes on the other side. Considering the fact that BOJ extended its pro-growth loan facilities to support the economy, today’s report will be searched carefully for the hints about economic risks and threats. Dovish tone will trigger another wave of JPY selling across the board and the cross may have another try at 171.00. The support comes at 170.40 and followed by 170.00.
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 170.94, with support below at 169.97, 169.25, and 168.59, with resistance above at 171.66, 172.63 and 173.34. Hourly Moving Averages are mixed, with the 200SMA at 169.09 and the daily 20EMA at 169.34. Hourly RSI is neutral at 44.