16 Jun 2014
GBP/JPY consolidated at key channel resistance
FXStreet (Guatemala) - GBP/JPY is trading at 173.01, down -0.07% on the day, having posted a daily high at 173.31 and low at 172.98.
GBP/JPY may be seen to be starting to look heavy here while testing the daily channel’s resistance, and as Sean Callow, analyst at Westpac Banking Corporation ABN reminded us that, last week, BoE Governor Carney noted it could happen sooner than markets currently expects. “So markets did what markets do and brought forward pricing. The BoE is now fully priced for first hike November”.
GBP/JPY Levels
With spot trading at 173.01, we can see next resistance ahead at 173.13 (Monthly High), (Weekly High), 173.22 (Daily Open), 173.31 (Daily High) and 173.38 (Yesterday's High). Support below can be found at 172.98 (Daily Low), 172.90 (Hourly 20 EMA), 172.87 (Daily Classic PP), 172.49 (Weekly Classic PP) and 172.37 (Daily Classic S1).
GBP/JPY may be seen to be starting to look heavy here while testing the daily channel’s resistance, and as Sean Callow, analyst at Westpac Banking Corporation ABN reminded us that, last week, BoE Governor Carney noted it could happen sooner than markets currently expects. “So markets did what markets do and brought forward pricing. The BoE is now fully priced for first hike November”.
GBP/JPY Levels
With spot trading at 173.01, we can see next resistance ahead at 173.13 (Monthly High), (Weekly High), 173.22 (Daily Open), 173.31 (Daily High) and 173.38 (Yesterday's High). Support below can be found at 172.98 (Daily Low), 172.90 (Hourly 20 EMA), 172.87 (Daily Classic PP), 172.49 (Weekly Classic PP) and 172.37 (Daily Classic S1).