12 Jan 2015
GBP/JPY heading towards 179.00
FXStreet (Bali) - GBP/JPY has broken through an area of support at 179.30, setting a new 1-week low at 179.18, fast approaching 179.00, Jan 6 low, in a day where Japanese markets are closed due to public holidays.
The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 32.38, down from the last hourly print at 34.91, with ADX at 27.19, up from its previous close at 21.33. Looking to momentum indicators, the hourly 200 SMA is currently at 180.30, down from the last close at 182.98 and declining.
Spot is presently trading at 179.23, and next resistance can be seen at 179.34 (Weekly Classic S1), 179.46 (Daily 100 SMA), 179.47 (Yesterday's Low), 179.53 (Daily Classic S3) and 179.54 (Daily Classic S2). Next support to the downside can be found at 179.17 (Daily Low), 179.15 (Weekly Classic S2), 178.92 (Weekly Classic S3), 175.89 (Daily 200 SMA) and 164.68 (Annual Low). Regarding candlestick formations, we can see Hammer formation on the 1-hour .
The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 32.38, down from the last hourly print at 34.91, with ADX at 27.19, up from its previous close at 21.33. Looking to momentum indicators, the hourly 200 SMA is currently at 180.30, down from the last close at 182.98 and declining.
Spot is presently trading at 179.23, and next resistance can be seen at 179.34 (Weekly Classic S1), 179.46 (Daily 100 SMA), 179.47 (Yesterday's Low), 179.53 (Daily Classic S3) and 179.54 (Daily Classic S2). Next support to the downside can be found at 179.17 (Daily Low), 179.15 (Weekly Classic S2), 178.92 (Weekly Classic S3), 175.89 (Daily 200 SMA) and 164.68 (Annual Low). Regarding candlestick formations, we can see Hammer formation on the 1-hour .