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19 Aug 2013
GBP/JPY pushing limits, will 153.00 be reached?
FXstreet.com (Chicago) - GBP/JPY fell from 7-week highs to trade below 153.00 zone despite a strong start in Asia. The pair is still up 0.56% for the day but losses account for 0.06% this past hour.
Impulsive rally
In the UK, the FTSE100 closed down at 0.27% post Rightmove House Price Indexes published in the region for the month of August. At -1.8%, a considerable decline from 0.3% did not affect bullish sentiment towards the pound as the pair strengthened on impulsive price action to reach 153.59 intraday highs. In Japan the Nikkei 225 closed up 0.79% after recovering earlier losses.
Technical Levels
Technically speaking, the pair trades at 152.88 between supports at 152.65 (July 2nd highs), 152.33 (August 14th highs) ahead of 152.00 (August 13th highs) and resistances at 153.00 (psychological resistance), 153.22 (August 15th highs) followed by 153.59 (intraday highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis with a neutral EMA20. The ICN technical analysis team reports a short-term trend in the upside targeting 163.00 if 147.65 remains intact.
Impulsive rally
In the UK, the FTSE100 closed down at 0.27% post Rightmove House Price Indexes published in the region for the month of August. At -1.8%, a considerable decline from 0.3% did not affect bullish sentiment towards the pound as the pair strengthened on impulsive price action to reach 153.59 intraday highs. In Japan the Nikkei 225 closed up 0.79% after recovering earlier losses.
Technical Levels
Technically speaking, the pair trades at 152.88 between supports at 152.65 (July 2nd highs), 152.33 (August 14th highs) ahead of 152.00 (August 13th highs) and resistances at 153.00 (psychological resistance), 153.22 (August 15th highs) followed by 153.59 (intraday highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis with a neutral EMA20. The ICN technical analysis team reports a short-term trend in the upside targeting 163.00 if 147.65 remains intact.