17 Oct 2013
GBP/JPY firm above 157.70
FXstreet.com (Chicago) - GBP/JPY continues climbing with the weakening of the yen despite fall from 158 zone ahead of Tokyo’s opening.
Ahead of foreign bond investment data, foreign investment results in Japanese stocks tomorrow and Tokyo’s opening, the pound extends bullish channel from session lows aiming to maintain the 157.70 zone. In earlier results, unemployment data was mostly negative with average earnings failing to meet expectations along claimant count rates.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.72 oscillating between supports aligned at 157.39 (September 30th lows), 156.95 (September 15th lows) ahead of 156.42 (September 4th highs) and the resistances set at 158 (September 26th lows), 158.83 (October 2nd highs) followed by 160 (September 30th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.
Ahead of foreign bond investment data, foreign investment results in Japanese stocks tomorrow and Tokyo’s opening, the pound extends bullish channel from session lows aiming to maintain the 157.70 zone. In earlier results, unemployment data was mostly negative with average earnings failing to meet expectations along claimant count rates.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.72 oscillating between supports aligned at 157.39 (September 30th lows), 156.95 (September 15th lows) ahead of 156.42 (September 4th highs) and the resistances set at 158 (September 26th lows), 158.83 (October 2nd highs) followed by 160 (September 30th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.