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4 Oct 2013
GBP/JPY extended the downside, catching a small bounce through 156.00 handle
FXstreet.com (London) - GBP/JPY has extended the downside down -0.69% at 156.04 currently but over four big figures on the week.
Research teams at TD Securities explained that GBP’s weakness seems to be driven by more technical issues and longs being squeezed. Meanwhile, research teams at BBH said, “The yen is the second strongest currency on the day and week, gaining 0.1% and about 1.1% respectively. The Nikkei, though lost nearly 1% today, bringing this week's decline to 5%, the largest decline in two months and among the poorest weekly performances of the year. The BOJ concluded its two-day meeting and left its economic assessment and stance unchanged”.
GBP/JPY Levels
The 20 DMA is 158.05, the 50 DMA is 154.45 and the 200 DMA is 149.55. RSI (14) reads 25.07. Supports are ascending from 155.20 and 155.55. Spot is currently 156.04 while resistances are 156.20,156.65, 157.25, 157.85 and 158.95.
Research teams at TD Securities explained that GBP’s weakness seems to be driven by more technical issues and longs being squeezed. Meanwhile, research teams at BBH said, “The yen is the second strongest currency on the day and week, gaining 0.1% and about 1.1% respectively. The Nikkei, though lost nearly 1% today, bringing this week's decline to 5%, the largest decline in two months and among the poorest weekly performances of the year. The BOJ concluded its two-day meeting and left its economic assessment and stance unchanged”.
GBP/JPY Levels
The 20 DMA is 158.05, the 50 DMA is 154.45 and the 200 DMA is 149.55. RSI (14) reads 25.07. Supports are ascending from 155.20 and 155.55. Spot is currently 156.04 while resistances are 156.20,156.65, 157.25, 157.85 and 158.95.