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14 Mar 2014
GBP/JPY anchored on 168 handle
FXStreet (Barcelona) - GBP/JPY is anchored on the 168 handle while the yen continues to perform with there being growing tensions in the markets over the crisis in the Ukraine, with a referendum over Crimea scheduled for Sunday.
In economic news for the UK, the Trade Balance disappointed, as the deficit swelled to its highest level in September 2012. Earlier in the week, BOE Governor Mark Carney reiterated that the Bank was in no rush to raise interest rates, noting that the economy may have spare capacity of up to 1.5% of GDP.
GBP/JPY Levels
The 20 DMA is 170.70, the 50 DMA is 170.20 and the 200 DMA is 160.65. RSI (14) reads 39.41. Supports are ascending from 167.55 and 167.90. Spot is 168.11 while resistances are 168.75,169.15,170.20, 171.65,172.10 and 172.85.
In economic news for the UK, the Trade Balance disappointed, as the deficit swelled to its highest level in September 2012. Earlier in the week, BOE Governor Mark Carney reiterated that the Bank was in no rush to raise interest rates, noting that the economy may have spare capacity of up to 1.5% of GDP.
GBP/JPY Levels
The 20 DMA is 170.70, the 50 DMA is 170.20 and the 200 DMA is 160.65. RSI (14) reads 39.41. Supports are ascending from 167.55 and 167.90. Spot is 168.11 while resistances are 168.75,169.15,170.20, 171.65,172.10 and 172.85.