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1 Oct 2013
GBP/JPY spiking through 159.00 handle
FXstreet.com (London) - GBP/JPY has found a bounce back into the 159.00 handle and has accelerated in the NA open to 159.31.
GBP/JPY is higher despite the poor Markit Manufacturing data from the UK. Meanwhile, Japan decided to put together an economic stimulus package worth around 5 trillion yen ($50.96 billion) to offset the impact from a sales tax hike planned next April. Despite a US Government shutdown, the dollar is firmer against the Yen.
GBP/JPY Levels
The 20 DMA is 157.60, the 50 DMA is 154.15, and the 200 DMA is 149.25. RSI (14) reads 56.25. Supports are ascending from 157.00 157.15 158.25 and 158.80. Spot is currently 159.04 while resistances are 159.35, 159.70, 160.00, 160.40, 161.40 and 162.05.
GBP/JPY is higher despite the poor Markit Manufacturing data from the UK. Meanwhile, Japan decided to put together an economic stimulus package worth around 5 trillion yen ($50.96 billion) to offset the impact from a sales tax hike planned next April. Despite a US Government shutdown, the dollar is firmer against the Yen.
GBP/JPY Levels
The 20 DMA is 157.60, the 50 DMA is 154.15, and the 200 DMA is 149.25. RSI (14) reads 56.25. Supports are ascending from 157.00 157.15 158.25 and 158.80. Spot is currently 159.04 while resistances are 159.35, 159.70, 160.00, 160.40, 161.40 and 162.05.