Back
7 Jan 2014
GBP/JPY caught up by Sterling’s bulls?
FXstreet.com (London) - GBP/JPY has drifted sideways and has been caught between the major counterparts, slightly bid with Sterling penetrating the 1.6400 level.
Meanwhile, and following comments from BoE Governor Carney in the weekend press, Jane Foley, Senior Currency Strategist at Rabobank said, “It seems feasible that the Bank could change this forward guidance as part of the February Inflation Report and that the ground could be prepared at the January policy meeting”. She added, “The minutes will be published on January 22. The likelihood that the Bank is about to strengthen its dovish position should undermine the impact of better economic data on sterling in the coming weeks”.
GBP/JPY Levels
The 20 DMA is 170.75, the 50 DMA is 165.70 and the 200 DMA is 156.35. RSI (14) reads 48.65. Supports are 168.40, 169.35, 169.80, 170.15, 171.05, 171.70, 172.35, 172.50 and 173.25.
Meanwhile, and following comments from BoE Governor Carney in the weekend press, Jane Foley, Senior Currency Strategist at Rabobank said, “It seems feasible that the Bank could change this forward guidance as part of the February Inflation Report and that the ground could be prepared at the January policy meeting”. She added, “The minutes will be published on January 22. The likelihood that the Bank is about to strengthen its dovish position should undermine the impact of better economic data on sterling in the coming weeks”.
GBP/JPY Levels
The 20 DMA is 170.75, the 50 DMA is 165.70 and the 200 DMA is 156.35. RSI (14) reads 48.65. Supports are 168.40, 169.35, 169.80, 170.15, 171.05, 171.70, 172.35, 172.50 and 173.25.