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19 Sep 2014
GBP/JPY finally finds a base sub 178 handle
FXStreet (Guatemala) - GBP/JPY is trading at 177.69, down -0.27% on the day, having posted a daily high at 180.73 and low at 177.55.
GBP/JPY has come off in the advent of a secured Britain, “Better together” victory while the Yen was traded out of leveraged positioning and Sterling continues to slide on a high greenback and profit taking in the cross that unfolded. Fundamentals will play their part again though, firstly it will be interesting to see if the G20 weekend meeting will have any mention of currencies, then we will pay note of the weakness of the Yen and whether that has come about too soon and too fast.
GBP/JPY levels
Spot is presently trading at 177.70, and next resistance can be seen at 178.19 (6 Year High). Support below can be found at 177.58 (Daily Classic PP), 177.55, 176.78 (Daily Classic S1), 176.43 (Weekly Classic R1) and 176.38.
GBP/JPY has come off in the advent of a secured Britain, “Better together” victory while the Yen was traded out of leveraged positioning and Sterling continues to slide on a high greenback and profit taking in the cross that unfolded. Fundamentals will play their part again though, firstly it will be interesting to see if the G20 weekend meeting will have any mention of currencies, then we will pay note of the weakness of the Yen and whether that has come about too soon and too fast.
GBP/JPY levels
Spot is presently trading at 177.70, and next resistance can be seen at 178.19 (6 Year High). Support below can be found at 177.58 (Daily Classic PP), 177.55, 176.78 (Daily Classic S1), 176.43 (Weekly Classic R1) and 176.38.