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3 Oct 2013
GBP/JPY finding a bounce to 157.36
FXstreet.com (London) - The GBP/JPY has found support ahead of the BoJ this evening. Sterling is under performing on the session despite a continued set of improvements in the UK economy.
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 23.33. Supports are ascending from 156.65,157.00, 157.15 and 157.40. Spot is currently 157.19 while resistances are 158.00, 158.80 and 159.40.
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 23.33. Supports are ascending from 156.65,157.00, 157.15 and 157.40. Spot is currently 157.19 while resistances are 158.00, 158.80 and 159.40.