30 Jan 2014
GBP/JPY driven by EM’s
FXstreet.com (Guatemala) - GBP/JPY is back on 169.00 post the landslide from above 171.50 during yesterday’s overnight session.
GBP/JPY has since traded as low as 168.18 on the day but has rallied over a big figure making a high of 169.78. The markets are reportedly driven by the concerns in EM’s at the moment and in general they are currently out of favour. Jane Foley Senior Currency Strategist at Rabobank said the near-term, safe haven “remains the order of the day and the USD, the JPY and the CHF are the usual suspects and the best performing developed world currencies in recent days”.
GBP/JPY Levels
The 20 DMA is 171.20, the 50 DMA is 169.80 and the 200 DMA is 158.15. RSI (14) reads 48.68. Supports are ascending from 166.60, 167.55, 167.80, 168.70, Spot is 169.34 while resistances are 171.45, 172.30, 172.80 and 173.65.
GBP/JPY has since traded as low as 168.18 on the day but has rallied over a big figure making a high of 169.78. The markets are reportedly driven by the concerns in EM’s at the moment and in general they are currently out of favour. Jane Foley Senior Currency Strategist at Rabobank said the near-term, safe haven “remains the order of the day and the USD, the JPY and the CHF are the usual suspects and the best performing developed world currencies in recent days”.
GBP/JPY Levels
The 20 DMA is 171.20, the 50 DMA is 169.80 and the 200 DMA is 158.15. RSI (14) reads 48.68. Supports are ascending from 166.60, 167.55, 167.80, 168.70, Spot is 169.34 while resistances are 171.45, 172.30, 172.80 and 173.65.