24 Mar 2014
GBP/JPY declines from high, but still positive
FXStreet (Barcelona) - Currently, GBP/JPY is trading at 168.71, up 0.05% on the day, having posted a daily high at 169.45 and low at 168.14.
It has been a quiet day of direct data for the pair, with surprising French and German Manufacturing PMIs causing a morning spurt of volatility to the upside. Spot has gently declined since, and with the calendar essentially concluded for the day, next on its radar is the glut of UK data tomorrow morning.
GBP/JPY techncials
Currently RSI is at 43.31, down from the last hourly print at 48.51, with ADX at 13.92, up from its previous close at 10.46. Daily RSI sits at 43.43, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 168.91, down from the last close at 169.31 and declining. Over the past 20 days, the exponential average closing price is 169.80, and trending lower. Following the four week period average, today’s most volatile hour is between 15:00-16:00 GMT.
What are today’s key GBP/JPY levels and patterns?
A Hammer formation can be seen on the daily chart. Support below can be seen at S1 169.13, S2 167.60 and S3 167.10. Resistance can be found at R1 169.15, R2 169.65 and R3 170.18.
It has been a quiet day of direct data for the pair, with surprising French and German Manufacturing PMIs causing a morning spurt of volatility to the upside. Spot has gently declined since, and with the calendar essentially concluded for the day, next on its radar is the glut of UK data tomorrow morning.
GBP/JPY techncials
Currently RSI is at 43.31, down from the last hourly print at 48.51, with ADX at 13.92, up from its previous close at 10.46. Daily RSI sits at 43.43, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 168.91, down from the last close at 169.31 and declining. Over the past 20 days, the exponential average closing price is 169.80, and trending lower. Following the four week period average, today’s most volatile hour is between 15:00-16:00 GMT.
What are today’s key GBP/JPY levels and patterns?
A Hammer formation can be seen on the daily chart. Support below can be seen at S1 169.13, S2 167.60 and S3 167.10. Resistance can be found at R1 169.15, R2 169.65 and R3 170.18.