28 Oct 2013
GBP/JPY dropping like a stone
FXstreet.com (London) - The yen had been underperforming helped by some dovish comments by BOJ Deputy Governor Iwata ahead of the BOK meeting this week.
In the mean time though, Sterling is down over 100 pips from Fridays move and comments made by BoE Deputy Governor Bean have rattled the market. “This is because he is the first BoE official to raise the prospect of the MPC moving the current 7% unemployment rate threshold under certain circumstances” said teams at RBS.
GBP/JPY Levels
The 20 DMA is 157.40, the 50 DMA is 156.45 and the 200 DMA is 150.70. RSI (14) reads 48.43. Supports are ascending from 155.50, 155.85, 156.40, 156.85, 157.90, 158.30, 158.75, 159.55 and 160.00.
In the mean time though, Sterling is down over 100 pips from Fridays move and comments made by BoE Deputy Governor Bean have rattled the market. “This is because he is the first BoE official to raise the prospect of the MPC moving the current 7% unemployment rate threshold under certain circumstances” said teams at RBS.
GBP/JPY Levels
The 20 DMA is 157.40, the 50 DMA is 156.45 and the 200 DMA is 150.70. RSI (14) reads 48.43. Supports are ascending from 155.50, 155.85, 156.40, 156.85, 157.90, 158.30, 158.75, 159.55 and 160.00.