18 Sep 2013
GBP/JPY at highs since 2009
FXstreet.com (London) - GBP/JPY is at its highest levels since 2009 while Sterling is bid across the board.
The Japanese equity market is outperforming despite the firmer yen, with the Nikkei up 1.4% on the day. Research teams at TD Securities said the BoE minutes were the highlight macro development overnight, with a more optimistic tone helping to boost Sterling to the top of the performance rankings among the G10 currencies. “The MPC acknowledged the better UK activity lately and upgraded their growth outlook for the remainder of the year, but perhaps more importantly they did not make any attempt to push back on the recent rise in Gilt yields. 10-yr Gilts are now testing 3.0% again as a result.
GBP/JPY levels
The 20 DMA is 155.20, the 50 DMA is .152.84 and the 200 DMA is 148.25. RSI (14) prints 52.29. Supports are ascending from 156.20, 156.65 and .156.90, 157.35, 157.65 and 157.90. Spot is currently 158.00 while resistances are 158.20 with 160.00, 162.00 and 163.11 the 2009 highs in view.
The Japanese equity market is outperforming despite the firmer yen, with the Nikkei up 1.4% on the day. Research teams at TD Securities said the BoE minutes were the highlight macro development overnight, with a more optimistic tone helping to boost Sterling to the top of the performance rankings among the G10 currencies. “The MPC acknowledged the better UK activity lately and upgraded their growth outlook for the remainder of the year, but perhaps more importantly they did not make any attempt to push back on the recent rise in Gilt yields. 10-yr Gilts are now testing 3.0% again as a result.
GBP/JPY levels
The 20 DMA is 155.20, the 50 DMA is .152.84 and the 200 DMA is 148.25. RSI (14) prints 52.29. Supports are ascending from 156.20, 156.65 and .156.90, 157.35, 157.65 and 157.90. Spot is currently 158.00 while resistances are 158.20 with 160.00, 162.00 and 163.11 the 2009 highs in view.