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26 Jun 2013
GBP/JPY prints low of the sessions
FXstreet.com (London) - GBP/JPY prints low of the sessions
GBP/JPY is printing a low of the session at 149.67. Meanwhile, data in the US affecting USD/JPY meant the dollar was unable to continue any higher on recent and poor GDP. The reading came in worse at 1.8% against 2.4% expected and Yen appreciated.
The Yen is caught between the yields and risk of moves in stocks as well and GBP/JPY will react to a sensitive market fixated on Us data, stock markets and yields. The pair to rise along an ascending trend line, although of late it’s channel has been narrowing from topside pressure closing in. This could be indicating a breakout to the down side and could develop a correction. 149.35 and 148.15 are key support areas while the pair need closes above 151.50 to see that the quote can maintain its bullish ranges.
GBP/JPY is printing a low of the session at 149.67. Meanwhile, data in the US affecting USD/JPY meant the dollar was unable to continue any higher on recent and poor GDP. The reading came in worse at 1.8% against 2.4% expected and Yen appreciated.
The Yen is caught between the yields and risk of moves in stocks as well and GBP/JPY will react to a sensitive market fixated on Us data, stock markets and yields. The pair to rise along an ascending trend line, although of late it’s channel has been narrowing from topside pressure closing in. This could be indicating a breakout to the down side and could develop a correction. 149.35 and 148.15 are key support areas while the pair need closes above 151.50 to see that the quote can maintain its bullish ranges.