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3 Oct 2013
GBP/JPY dropping like a stone, extending losses
FXstreet.com (London) - GBP/JPY has dropped from the highs of 158.86 to mark a low of 157.54The GBP/JPY has followed suit with USD/JPY dropping also ahead of the BoJ this evening.
From the calendar and the UK, Markit Services PMI (Sep) beat expectations coming in at 60.3 vs 60.0 but slightly down on previous at 60.5. This, coupled with yesterday’s. In the Construction PMI that posted a figure above 50 for a fifth month in September has enabled the pound. It is worth noting that the number printed was slightly lower than the market expected, coming in at 58.9 versus 59.5 but that did little to halt the Pound’s advance against the USD.
GBP/JPY Levels
The 20 DMA is 158.00, the 50 DMA is 154.35 and the 200 DMA is 149.45. RSI (14) reads 34.58.
Supports are ascending from 156.65,157.00, 157.15 and 157.40. Spot is currently 157.44 while resistances are 158.00, 158.80 and 159.40.
From the calendar and the UK, Markit Services PMI (Sep) beat expectations coming in at 60.3 vs 60.0 but slightly down on previous at 60.5. This, coupled with yesterday’s. In the Construction PMI that posted a figure above 50 for a fifth month in September has enabled the pound. It is worth noting that the number printed was slightly lower than the market expected, coming in at 58.9 versus 59.5 but that did little to halt the Pound’s advance against the USD.
GBP/JPY Levels
The 20 DMA is 158.00, the 50 DMA is 154.35 and the 200 DMA is 149.45. RSI (14) reads 34.58.
Supports are ascending from 156.65,157.00, 157.15 and 157.40. Spot is currently 157.44 while resistances are 158.00, 158.80 and 159.40.