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17 Sep 2013
GBP/JPY looking bid and rising
FXstreet.com (London) - GBP/JPY volatility is happening within a relatively tight range still between 158.20. and 157.33 this week, while GBP/USD and USD/JPY are a dollar weakness story and big movers.
GBP/JPY has held form, supported at 157.40 on a slightly bullish bias while the Hawk, Larry Summers’ withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may be the person for the job has lead to the dollar dropping significantly towards significant levels in Cable and the Yen on Monday. Markets are expecting a longer term in current accommodative policies. Meanwhile, this week will hold a number of key events, from BoE Minutes, Fed Interest Rate Decision to CPI’s for both US and UK and Japan Foreign Investment flows.
GBP/JPY Levels
The 20 DMA is 155.00 the 50 DMA is 152.70 and the 200 DMA is 148.00. Supports are ascending from 155.55,156.20, 156.55. 157.00, 157.20. Spot is currently 157.77 while resistances are coming in at 157.90, 158.20, 158.50, 158.90 and 160.40.
GBP/JPY has held form, supported at 157.40 on a slightly bullish bias while the Hawk, Larry Summers’ withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may be the person for the job has lead to the dollar dropping significantly towards significant levels in Cable and the Yen on Monday. Markets are expecting a longer term in current accommodative policies. Meanwhile, this week will hold a number of key events, from BoE Minutes, Fed Interest Rate Decision to CPI’s for both US and UK and Japan Foreign Investment flows.
GBP/JPY Levels
The 20 DMA is 155.00 the 50 DMA is 152.70 and the 200 DMA is 148.00. Supports are ascending from 155.55,156.20, 156.55. 157.00, 157.20. Spot is currently 157.77 while resistances are coming in at 157.90, 158.20, 158.50, 158.90 and 160.40.