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3 Apr 2014
GBP/JPY returned below pivotal level 173.00
FXStreet (Moscow) - GBP/JPY retraced from Asian high at 173.12 and settled down below 173.00 pivotal level
Will GBP/JPY bulls love UK Service PMI as much as they liked Carney’s comments?
GBP/JPY traders are cautiously optimistic as the cross continues growing steadily. GBP bulls to break above at 173.00 resistance on fairly positive comments from the Head of Bank of England Carney, but the upside movement proved to be unsustainable and the cross returned to the area below 173.00. We do have another interesting UK report scheduled for today, namely, March Service PMI that may push the British currency higher if the numbers come out inline or better than expected. Economists predict expect 58.1 in March against 58.2 in February. From the technical point of view, the key resistance is 173.00 followed by 173.25. The support is seen at 172.70 and 172.50
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 172.67, with support below at 172.30, 171.88, and 171.51, with resistance above at 173.09, 173.46 and 173.88. Hourly Moving Averages are bullish, with the 200SMA at 170.43 and the daily 20EMA at 170.43. Hourly RSI is neutral at 60.
Will GBP/JPY bulls love UK Service PMI as much as they liked Carney’s comments?
GBP/JPY traders are cautiously optimistic as the cross continues growing steadily. GBP bulls to break above at 173.00 resistance on fairly positive comments from the Head of Bank of England Carney, but the upside movement proved to be unsustainable and the cross returned to the area below 173.00. We do have another interesting UK report scheduled for today, namely, March Service PMI that may push the British currency higher if the numbers come out inline or better than expected. Economists predict expect 58.1 in March against 58.2 in February. From the technical point of view, the key resistance is 173.00 followed by 173.25. The support is seen at 172.70 and 172.50
What are today’s key GBP/JPY levels?
Today's central pivot point can be found at 172.67, with support below at 172.30, 171.88, and 171.51, with resistance above at 173.09, 173.46 and 173.88. Hourly Moving Averages are bullish, with the 200SMA at 170.43 and the daily 20EMA at 170.43. Hourly RSI is neutral at 60.