11 Dec 2013
GBP/JPY unwinding into 167.60
FXstreet.com (London) - Equity markets were down in Asia, boosting the JPY again. GBP/JPY has lost space on the 169 handle, falling from 170.00 territory and is currently struggling to maintain the 168 handle.
There is no data today from the UK and markets are taking profits exuberated by stops. The euro has likely contributed the unwinding of sterling longs as well fuelling the drop in the pair also.
GBP/JPY Levels
The 20 DMA is 165.00, the 50 DMA is 160.55 and the 200 DMA is 153.75. RSI (14) reads 72.00. Support is 167.25 and 167.60 while spot is currently 167.75. Resistances are 168.15 168.65, 168.95, 170.05 171.35, 173.00 and 173.65.
There is no data today from the UK and markets are taking profits exuberated by stops. The euro has likely contributed the unwinding of sterling longs as well fuelling the drop in the pair also.
GBP/JPY Levels
The 20 DMA is 165.00, the 50 DMA is 160.55 and the 200 DMA is 153.75. RSI (14) reads 72.00. Support is 167.25 and 167.60 while spot is currently 167.75. Resistances are 168.15 168.65, 168.95, 170.05 171.35, 173.00 and 173.65.