22 Jan 2014
GBP/JPY reaching yearly highs
FXstreet.com (Guatemala) - GBP/JPY has reached a high of 173.14 from 171.50 on the day post Central Bank policy making activity.
“November, BoE minutes concede that u/rate may reach the 7% policy threshold “materially earlier” than the central bank had expected but there was no need to raise rates soon. The BoJ policy meeting ended with the current pace of monetary expansion maintained, as expected”, explained TD Securities strategists. Strategists at Brown Brothers Harriman explained “The BOJ left policy unchanged, with the current plan being to increase the monetary base by ¥60-70trn until the inflation target is achieved”.
GBP/JPY Levels
The 20 DMA is 171.90, the 50 DMA is 168.60 and the 200 DMA is 157.60. RSI (14) reads 65. Supports are ascending from 169.80, 170.10, 170.60, 171.10, 172.35, 172.75. Spot is while resistances are 173.15 and 173.95.
“November, BoE minutes concede that u/rate may reach the 7% policy threshold “materially earlier” than the central bank had expected but there was no need to raise rates soon. The BoJ policy meeting ended with the current pace of monetary expansion maintained, as expected”, explained TD Securities strategists. Strategists at Brown Brothers Harriman explained “The BOJ left policy unchanged, with the current plan being to increase the monetary base by ¥60-70trn until the inflation target is achieved”.
GBP/JPY Levels
The 20 DMA is 171.90, the 50 DMA is 168.60 and the 200 DMA is 157.60. RSI (14) reads 65. Supports are ascending from 169.80, 170.10, 170.60, 171.10, 172.35, 172.75. Spot is while resistances are 173.15 and 173.95.