13 Mar 2014
GBP/JPY collapses to 1-month lows below 170.00
FXStreet (San Francisco) - The Risk aversion is fueling the Japanese Yen across the board and against the Sterling is not an exception. The GBP/JPY collapsed 285 pips in the American session from 171.60 to break below 170.00 and to test lows since February 12 at 168.75.
Drums of war are beating faster in Ukraine on Tuesday as Russian troops are taking positions ahead of Sunday referendum; then risk aversion is taking markets and safe havens like Yen, CHF and bonds are rising across the board.
GBP/JPY sentiment
The GBP/JPY is currently trading 1.10% negative on the day at 168.85; the short term perspective is slightly bearish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bullish.
If the pair remains below 170.00, it would face supports at 168.40 and 167.50. On the upside, resistances are at 170.15, 171.20 and 171.60.
Drums of war are beating faster in Ukraine on Tuesday as Russian troops are taking positions ahead of Sunday referendum; then risk aversion is taking markets and safe havens like Yen, CHF and bonds are rising across the board.
GBP/JPY sentiment
The GBP/JPY is currently trading 1.10% negative on the day at 168.85; the short term perspective is slightly bearish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bullish.
If the pair remains below 170.00, it would face supports at 168.40 and 167.50. On the upside, resistances are at 170.15, 171.20 and 171.60.