8 Nov 2013
GBP/JPY reaches 158.60 peaks
FXstreet.com (Chicago) - GBP/JPY extends the climb in the afternoon of the American trading session to print 0.42% daily gains so far.
The BoE interest rate decision was maintained at 0.5% on Thursday’s releases. Today, the total trade balance, worse than expected, was -9.816B vs. expectations at -9.200B.
GBP/JPY Technical Levels
Price action reveals the pair continues consolidating the upward trendline that started earlier today. Primary, secondary, and short-term trends confirm the intraday price action pointing up. Offered at 158.55, the pair oscillates between the supports aligned at 158.34 (November 6th lows), 158 (October 18th lows) ahead of 157.62 (November 4th highs) and the resistances set at 158.75 (October 21st highs), 159.35 (October 23rd highs) followed by 160 (October 1st highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis flowing above the EMA20.
The BoE interest rate decision was maintained at 0.5% on Thursday’s releases. Today, the total trade balance, worse than expected, was -9.816B vs. expectations at -9.200B.
GBP/JPY Technical Levels
Price action reveals the pair continues consolidating the upward trendline that started earlier today. Primary, secondary, and short-term trends confirm the intraday price action pointing up. Offered at 158.55, the pair oscillates between the supports aligned at 158.34 (November 6th lows), 158 (October 18th lows) ahead of 157.62 (November 4th highs) and the resistances set at 158.75 (October 21st highs), 159.35 (October 23rd highs) followed by 160 (October 1st highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis flowing above the EMA20.