5 Dec 2013
GBP/JPY clears descending resistance
FXstreet.com (London) - GBP/JPY had a decent move lower from above 169 and has printed a low of 166.87 before climbing back aggressively on the session and scoring a high of 167.76.
GBP/JPY has cleared the descending resistance line. December is looking to be a month that may serve as a month full of volatility. There are a number of data release coming up now as we come towards the end of the week and the market is pro sterling and selling Yen on Yen rallies.
GBP/JPY Levels
The 20 DMA is 162.55, the 50 DMA is 159.55 and the 200 DMA is 153.05. RSI (14) reads 48.22. Supports are ascending from 166.00, 166.50, 166.85, 167.35, 168.05, 168.55, 169.15, 170.00 and 170.45.
GBP/JPY has cleared the descending resistance line. December is looking to be a month that may serve as a month full of volatility. There are a number of data release coming up now as we come towards the end of the week and the market is pro sterling and selling Yen on Yen rallies.
GBP/JPY Levels
The 20 DMA is 162.55, the 50 DMA is 159.55 and the 200 DMA is 153.05. RSI (14) reads 48.22. Supports are ascending from 166.00, 166.50, 166.85, 167.35, 168.05, 168.55, 169.15, 170.00 and 170.45.