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14 May 2015
GBP/JPY: Bid is fading but remains with a bullish bias
FXStreet (Guatemala) - GBP/JPY is currently trading at 187.76 with a high of 188.53 and a low of 187.36.
GBP/JPY is consolidating the bid of yesterday's business. The Yen has continued to trace the upside vs the greenback and has been as low as 118.88 and making lower highs. Sterling has been up as high as 1.5816 and making fresh highs for the year, but falling just shy of the November 21st weekly stick while markets do not get too ahead of themselves in the pound given Carney's less than neutral tone yesterday.
Technically, the price is at the SAM 50 and pivot on the hourly and finds resistance at the December 16th 2014 daily stick. There are no clear signals in the cross although it remains with a bullish bias on the hourly chart above SMA 100 at 186.98 targeting 189.70 and the Dec 14 highs.
GBP/JPY is consolidating the bid of yesterday's business. The Yen has continued to trace the upside vs the greenback and has been as low as 118.88 and making lower highs. Sterling has been up as high as 1.5816 and making fresh highs for the year, but falling just shy of the November 21st weekly stick while markets do not get too ahead of themselves in the pound given Carney's less than neutral tone yesterday.
Technically, the price is at the SAM 50 and pivot on the hourly and finds resistance at the December 16th 2014 daily stick. There are no clear signals in the cross although it remains with a bullish bias on the hourly chart above SMA 100 at 186.98 targeting 189.70 and the Dec 14 highs.