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30 Sep 2013
GBP/JPY has rocketed through resistances, eyes 160.00
FXstreet.com (London) - The GBP/JPY has taken out resistances and has carved a way with eyes towards the 160.00 level.
GBP/JPY has printed a high of 159.39 vs a low of 157.39. For the UK, the teams at TD Securities explained, “ Mortgage approvals rose from 60.9K to 62.2K in Aug (mkt 61.5K), building on the 6m upward trend. The govt is expected to bring forward its Help to Buy Scheme, which should support housing activity further in the coming months/quarters”. For the Yen, research teams at Bank of America Merrill Lynch explained that they expect status quo at the BoJ monetary policy meeting next week and do not expect the BoJ to make any changes in its monetary policy framework.
GBP/JPY Levels
The 20 DMA is 157.55, the 50 DMA is 154.00 and the 200 DMA is 149.15. RSI (14) reads 63.80. Supports are ascending from 155.55, 156.20, 156.65, and 157.00. Spot is currently 159.23 while resistances are 159.25, 159.70 and 160.00.
GBP/JPY has printed a high of 159.39 vs a low of 157.39. For the UK, the teams at TD Securities explained, “ Mortgage approvals rose from 60.9K to 62.2K in Aug (mkt 61.5K), building on the 6m upward trend. The govt is expected to bring forward its Help to Buy Scheme, which should support housing activity further in the coming months/quarters”. For the Yen, research teams at Bank of America Merrill Lynch explained that they expect status quo at the BoJ monetary policy meeting next week and do not expect the BoJ to make any changes in its monetary policy framework.
GBP/JPY Levels
The 20 DMA is 157.55, the 50 DMA is 154.00 and the 200 DMA is 149.15. RSI (14) reads 63.80. Supports are ascending from 155.55, 156.20, 156.65, and 157.00. Spot is currently 159.23 while resistances are 159.25, 159.70 and 160.00.