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Forex pairs in this Article » GBP/USD, USD/JPY
FXStreet (Guatemala) - GBP/JPY fell from above 171.80 towards 170.40 before a drift back onto the 171 handle where the pair is attempting to hold on before supply in the 171.30’s.

GBP/JPY has been rocked by two sets of data releases. Global currency analyst team at Brown Brothers Harriman explained that the yen sold off in response to the BOJ's moves. “The BOJ announced the expansion of two of its special loan facilities. The move had been widely expected, but in March, when the programs were to end, rather than this week. The size of the facilities were doubled and were extended another year. Although the moves seemed largely "housekeeping," the markets responded quickly to the BOJ preparedness to act. Then, “The CPI in January fell 0.6% m/m, and brought the y/y rate to 1.9% from 2.0%. The news helps bolster the BOE's case for rates being on hold for longer”.

GBP/JPY Levels

The 20 DMA is 169.05, the 50 DMA is 170.20 and the 200 DMA is 159.15. RSI (14) reads 56.15. Supports are ascending from 169.15, 169.90, 170.25 and 170.80. Spot is 171.02 while resistances are 172.30, 172.80, 173.65 and 173.95.
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