Back
17 Feb 2014
GBP/JPY extending down to 176.20
FXStreet (Guatemala) - GBP/JPY has tailed off from 171 into 170.20 territory.
Sterling has been performing well while markets are pricing in rate hikes from the BoE in 2015. However the pair has dropped a big figure with mixed signals coming in from BoE officials. BOE's Miles said a rate hike is a blunt instrument for house market. The global currency strategy team at Brown Brothers Harriman explained and note that the disappointing Q4 GDP figures spurred speculation that maybe the BOJ will have to do more after all. “This saw the greenback climb back to the JPY102 area…It renews concerns about a flagging economy as April 1 retail sales tax looms”.
GBP/JPY Levels
The 20 DMA is 169.10, the 50 DMA is 170.15and the 200 DMA is 159.05. RSI (14) reads 46.42. Supports are ascending from 168.30, 168.80, 169.05, 169.95. Spot is 170.20, 171.00, 171.45, 172.30 and 172.80.
Sterling has been performing well while markets are pricing in rate hikes from the BoE in 2015. However the pair has dropped a big figure with mixed signals coming in from BoE officials. BOE's Miles said a rate hike is a blunt instrument for house market. The global currency strategy team at Brown Brothers Harriman explained and note that the disappointing Q4 GDP figures spurred speculation that maybe the BOJ will have to do more after all. “This saw the greenback climb back to the JPY102 area…It renews concerns about a flagging economy as April 1 retail sales tax looms”.
GBP/JPY Levels
The 20 DMA is 169.10, the 50 DMA is 170.15and the 200 DMA is 159.05. RSI (14) reads 46.42. Supports are ascending from 168.30, 168.80, 169.05, 169.95. Spot is 170.20, 171.00, 171.45, 172.30 and 172.80.