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18 Apr 2014
GBP/JPY is creeping lower on quiet Asian session
FXStreet (Moscow) - GBP/JPY is creeping below 172.00 support level after reaching the Asian high at 172.16.
Rangebound but vulnerable
GBP/JPY is ready to finish this week in the green zone thanks to positive UK macroeconomic data published earlier today. Better than expected labour market data forced the investors to review their monetary policy expectations. Today is a Good Friday and most of the markets are closed. The activity is practically nonexistent as lots of traders take their days-off. Though there might be some movements caused by anti-risk sentiments if we hear more alarming news from Eastern Ukraine. The parties of the conflict reached the agreement during the talks in Geneva, but whether they are going to stick to their commitments remains to be seen.
What price levels and patterns have to be considered?
Current price is 171.94, with resistance ahead at 171.96 (Daily Open), 171.96 (Weekly High), 172.13 (Yesterday's High), 172.21 (Daily High) and 172.24 (Daily Classic R1).
Support below can be found at 171.90 (Hourly 20 EMA), 171.85 (Daily Classic PP), 171.80 (Daily Low), 171.56 (Daily Classic S1) and 171.45 (Yesterday's Low).
Rangebound but vulnerable
GBP/JPY is ready to finish this week in the green zone thanks to positive UK macroeconomic data published earlier today. Better than expected labour market data forced the investors to review their monetary policy expectations. Today is a Good Friday and most of the markets are closed. The activity is practically nonexistent as lots of traders take their days-off. Though there might be some movements caused by anti-risk sentiments if we hear more alarming news from Eastern Ukraine. The parties of the conflict reached the agreement during the talks in Geneva, but whether they are going to stick to their commitments remains to be seen.
What price levels and patterns have to be considered?
Current price is 171.94, with resistance ahead at 171.96 (Daily Open), 171.96 (Weekly High), 172.13 (Yesterday's High), 172.21 (Daily High) and 172.24 (Daily Classic R1).
Support below can be found at 171.90 (Hourly 20 EMA), 171.85 (Daily Classic PP), 171.80 (Daily Low), 171.56 (Daily Classic S1) and 171.45 (Yesterday's Low).