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17 Oct 2013
GBP/JPY tracing cables new highs
FXstreet.com (London) - GBP/JPY is testing the upside again through 158.00 supported on positive UK data and cable.
Sterling had a difficult day yesterday with a move higher on better employment data followed by a one-way 1pc move lower as longs got squeezed out. Then the pair bounced a big figure overnight only adding to the confusion while markets today have pushed sterling higher still on solid retail sales numbers that beat expectations at 2.2% vs 2.1%.
GBP/JPY Levels
The 20 DMA is 157.55, the 5 DMA is 155.60 and the 200 DMA is 150.25. RSI (18) reads 63.85. Supports are ascending from 156.85, 157.20 and 157.70. Spot is currently 158.00 with resistances coming in at 158.85, 159.40 and 160.00
Sterling had a difficult day yesterday with a move higher on better employment data followed by a one-way 1pc move lower as longs got squeezed out. Then the pair bounced a big figure overnight only adding to the confusion while markets today have pushed sterling higher still on solid retail sales numbers that beat expectations at 2.2% vs 2.1%.
GBP/JPY Levels
The 20 DMA is 157.55, the 5 DMA is 155.60 and the 200 DMA is 150.25. RSI (18) reads 63.85. Supports are ascending from 156.85, 157.20 and 157.70. Spot is currently 158.00 with resistances coming in at 158.85, 159.40 and 160.00