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1 Nov 2013
GBP/JPY slowly climbing to 157.80 front
FXstreet.com (Chicago) - GBP/JPY remains unable to break above the 158 zone after retracing from 157.90 after the closing of the American trading session. Ahead of Tokyo’s opening, the bulls press higher aiming to erase 0.58% in monthly losses.
Facts
Earlier in the UK, nationwide housing prices (YoY) were 5.8% outperforming expectations at 5.1% and prior results at 5.0%. In Japan, vehicle sales will be the last piece of data before closing the month.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.74 and oscillates between the supports aligned at 157.62 (October 24th highs), 157.15 (October 24th lows) ahead of 156.64 (October 28th lows) and the resistances aligned at 158 (October 25th highs), 158.34 (October 17th highs) followed by 158.74 (October 20th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.
Facts
Earlier in the UK, nationwide housing prices (YoY) were 5.8% outperforming expectations at 5.1% and prior results at 5.0%. In Japan, vehicle sales will be the last piece of data before closing the month.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.74 and oscillates between the supports aligned at 157.62 (October 24th highs), 157.15 (October 24th lows) ahead of 156.64 (October 28th lows) and the resistances aligned at 158 (October 25th highs), 158.34 (October 17th highs) followed by 158.74 (October 20th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.