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31 Jul 2014
GBP/JPY taking a breather sub 174 key handle
FXStreet (Guatemala) - GBP/JPY is trading at 173.89, up 0.02% on the day, having posted a daily high at 174.00 and low at 173.83.
GBP/JPY has taken a great advantage over the movement in the US session over the greenback and surprise GDP that has USD/JPY back into positive territory and GBP/JPY breaks up out of the sideways channel with conviction, now consolidating the bid around the 174 handle. As a result, the hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is still slightly bullish. Meanwhile, daily RSI is in neutral territory at 56.29.
GBP/JPY Levels
Current price is 173.90, with resistance ahead at 174.00 (Daily High), 174.23 (Next High), 174.25 (Weekly Classic R3), 174.42 (Daily Classic R1) and 174.99 (Daily Classic R2). Next support to the downside can be found at 173.83 (Daily Low) and 173.67 (Daily Classic PP).
GBP/JPY has taken a great advantage over the movement in the US session over the greenback and surprise GDP that has USD/JPY back into positive territory and GBP/JPY breaks up out of the sideways channel with conviction, now consolidating the bid around the 174 handle. As a result, the hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is still slightly bullish. Meanwhile, daily RSI is in neutral territory at 56.29.
GBP/JPY Levels
Current price is 173.90, with resistance ahead at 174.00 (Daily High), 174.23 (Next High), 174.25 (Weekly Classic R3), 174.42 (Daily Classic R1) and 174.99 (Daily Classic R2). Next support to the downside can be found at 173.83 (Daily Low) and 173.67 (Daily Classic PP).