13 Dec 2013
GBP/JPY dropped 2 big figures
FXstreet.com (London) - GBP/JPY has been a poor performer dropping two full big figures from 169.76 to 167.85.
Despite USD/JPY reaching yearly highs overnight, the cross has suffered heavy losses while GBP/USD is trading back into the 1.62 handle falling sharply from 1.6340 region. Derek Halpenny, strategist at The Bank of Tokyo-Mitsubishi UFJ Ltd, explained the latest support for the dollar came from the news that the House passed the agreed US budget deal last night and passed it with ease; by 332-94 votes.
GBP/JPY Levels
The 20 DMA is 165.85, the 50 DMA is 160.95 and the 200 DMA is 154.00. RSI (14) reads 28.18. Supports are ascending from 166.85,167.25 and 167.40. Spot is 167.87 with resistances at 168.20,169.65,170.05, 171.35, 173.00 and 173.65.
Despite USD/JPY reaching yearly highs overnight, the cross has suffered heavy losses while GBP/USD is trading back into the 1.62 handle falling sharply from 1.6340 region. Derek Halpenny, strategist at The Bank of Tokyo-Mitsubishi UFJ Ltd, explained the latest support for the dollar came from the news that the House passed the agreed US budget deal last night and passed it with ease; by 332-94 votes.
GBP/JPY Levels
The 20 DMA is 165.85, the 50 DMA is 160.95 and the 200 DMA is 154.00. RSI (14) reads 28.18. Supports are ascending from 166.85,167.25 and 167.40. Spot is 167.87 with resistances at 168.20,169.65,170.05, 171.35, 173.00 and 173.65.