23 May 2014
GBP/JPY a quiet play at end of week
FXStreet (Guatemala) - GBP/JPY is trading at 171.41, down -0.13% on the day, having posted a daily high at 171.81 and low at 171.27.
There hasn’t been any releases for the pair although worth noting that early elections results in the UK show the right-wing party UKIP beating both coalition partners in early local results. The Conservatives lost 20 seats and UKIP gained 20 seats, according to early results. Meanwhile, analysts at Rabobank explained that the Sterling bulls were encouraged this week by signs that some members of the BoE’s MPC were becoming less dovish with the better data from the UK economy allowing sterling to outperform all other developed world currencies over the past 12 mths.
GBP/JPY Levels
Current price is 171.42, with resistance ahead at 171.49 (Daily 20 SMA), 171.55 (Hourly 20 EMA), 171.58 (Daily Classic PP), 171.64 (Daily Open) and 171.64 (Weekly High). Next support to the downside can be found at 171.28 (Daily Classic S1), 171.27 (Daily Low), 171.22 (Yesterday's Low), 171.20 (Weekly Classic PP) and 171.05 (Hourly 200 SMA).
There hasn’t been any releases for the pair although worth noting that early elections results in the UK show the right-wing party UKIP beating both coalition partners in early local results. The Conservatives lost 20 seats and UKIP gained 20 seats, according to early results. Meanwhile, analysts at Rabobank explained that the Sterling bulls were encouraged this week by signs that some members of the BoE’s MPC were becoming less dovish with the better data from the UK economy allowing sterling to outperform all other developed world currencies over the past 12 mths.
GBP/JPY Levels
Current price is 171.42, with resistance ahead at 171.49 (Daily 20 SMA), 171.55 (Hourly 20 EMA), 171.58 (Daily Classic PP), 171.64 (Daily Open) and 171.64 (Weekly High). Next support to the downside can be found at 171.28 (Daily Classic S1), 171.27 (Daily Low), 171.22 (Yesterday's Low), 171.20 (Weekly Classic PP) and 171.05 (Hourly 200 SMA).