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26 Feb 2014
GBP/JPY steady ahead of support 170.20
FXStreet (Guatemala) - FXStreet (Guatemala) - GBP/JPY had recovered ground on a bounce away from the 170 handle after a fierce drop through 171.00 in European hours. Currently the cross is not coping through 170.60 and sits at 170.40 currently.
Mortgage approvals in the UK gave the pound a lift but that was short lived. The calendar is light until later with London coming in. Domestically in the UK, Q4 GDP revision will be the highlight, despite the fact that no change is expected”.
GBP/JPY Levels
The 20 DMA is 168.90, the 50 DMA is 170.40 and the 200 DMA is 159.40. RSI (14) reads 42.89. Supports are ascending from 168.30, 168.60, 169.10, 169.90 and 170.20. Spot is 170.41 while resistances are 171.85, 172.30, 173.65 and 173.95.
Mortgage approvals in the UK gave the pound a lift but that was short lived. The calendar is light until later with London coming in. Domestically in the UK, Q4 GDP revision will be the highlight, despite the fact that no change is expected”.
GBP/JPY Levels
The 20 DMA is 168.90, the 50 DMA is 170.40 and the 200 DMA is 159.40. RSI (14) reads 42.89. Supports are ascending from 168.30, 168.60, 169.10, 169.90 and 170.20. Spot is 170.41 while resistances are 171.85, 172.30, 173.65 and 173.95.