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FXStreet (Moscow) - GBP/JPY reached the Asian high at 172.84 after opening at 172.43; the cross is currently trading at 172.63, but the bulls bias is still dominant
GBP/JPY doesn’t want to stop on its way to the North
GBP/JPY has been growing steadily since March 22. The cross’s bulls aims at 173.00 as the long-term bullish trend will be resumed as soon as they get the cross above that level. On the intraday basis GBP/JPY touched the maximum at 172.84 and retraced to 172.63, though the upside bias is still strong due to JPY selling across the board. UK publishes March Construction PMI later during the day, which is expected to drop to 62.6 from 63.1 in February. Though this is not enough to discourage GBP bulls as the figure is still strong. But the substantially lower that expected numbers may trigger the short-term correction. Keep an eye on 172.30 and 172.00 on the downside and 173.00 on the upside.
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 172.22, with support below at 171.89, 171.42, and 171.09, with resistance above at 172.69, 173.02 and 173.49. Hourly Moving Averages are bullish, with the 200SMA at 169.93 and the daily is bullish at 20EMA at 169.75. Hourly RSI is neutral at 69.
2 Apr 2014
GBP/JPY holds close to Asian highs at 172.84
FXStreet (Moscow) - GBP/JPY reached the Asian high at 172.84 after opening at 172.43; the cross is currently trading at 172.63, but the bulls bias is still dominant
GBP/JPY doesn’t want to stop on its way to the North
GBP/JPY has been growing steadily since March 22. The cross’s bulls aims at 173.00 as the long-term bullish trend will be resumed as soon as they get the cross above that level. On the intraday basis GBP/JPY touched the maximum at 172.84 and retraced to 172.63, though the upside bias is still strong due to JPY selling across the board. UK publishes March Construction PMI later during the day, which is expected to drop to 62.6 from 63.1 in February. Though this is not enough to discourage GBP bulls as the figure is still strong. But the substantially lower that expected numbers may trigger the short-term correction. Keep an eye on 172.30 and 172.00 on the downside and 173.00 on the upside.
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 172.22, with support below at 171.89, 171.42, and 171.09, with resistance above at 172.69, 173.02 and 173.49. Hourly Moving Averages are bullish, with the 200SMA at 169.93 and the daily is bullish at 20EMA at 169.75. Hourly RSI is neutral at 69.