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Forex pairs in this Article » GBP/USD, USD/JPY (Moscow) - GBP/JPY is sitting quietly in a tight range limited by 169.50 on the upside and 169.00 on the downside, as the cross lost nearly everything gained at the start of the week.

GBP/JPY is at new lows

Today GBP/JPY will follow where the risk sentiments lead as there is hardly anything more important for the markets right now. The EM currency crisis is gaining traction and threatening to derail the whole global economy, which drive the demand for safe-haven assets higher. Carney put some pressure on GBP yesterday as he noticed that the strong pound keep the inflation in check. UK publishes the mortgage approvals and consumer credit data today. Though these reports are unlikely to trigger significant market reaction, they are worth mentioning as they will help to estimate the housing market activity. If the support of 169.00 is broken, the cross may go lower to 168.70 and even 168.00 will not be out of the question on a combination of anti-risk sentiments and technical factors, while the resistance of 169.50 may limit the upside, should the cross decides to develop the correction. Once it is broken, watch out for 169.96.

What are today’s key GBP/JPY levels?

Today's central pivot point can be found at 169.79, with support below at 168.10, 167.00 and 165.31, with resistance above at 170.88, 172.57 and 173.67. Hourly Moving Averages are bearish, with the 200SMA at 171.08 and the daily 20EMA at 170.78. Hourly RSI is neutral at 35.
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