30 Oct 2013
GBP/JPY, bulls outperform
FXstreet.com (Chicago) - GBP/JPY consolidates the 157.50 front printing higher highs and lows one hour into Tokyo’s session.
The last set of data to be released tonight is vehicle production results in Japan for the Asian session. In the UK mixed results were made public with mortgage approvals beating expectations but consumer credit and net lending to individuals results failing to reach estimates.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.56 and oscillates between the supports aligned at 157.15 (October 25th lows), 156.64 (October 8th highs) ahead of 156.19 (September 9th lows) and the resistances set at 157.62 (October 29th highs), 158 (October 15th highs) followed by 158.74 (October 21st highs). Extending the bullish channel, the pound outperforms the yen extending the upward trendline from last August 7th lows.
The last set of data to be released tonight is vehicle production results in Japan for the Asian session. In the UK mixed results were made public with mortgage approvals beating expectations but consumer credit and net lending to individuals results failing to reach estimates.
GBP/JPY Technical Levels
Technically speaking, the pair is offered at 157.56 and oscillates between the supports aligned at 157.15 (October 25th lows), 156.64 (October 8th highs) ahead of 156.19 (September 9th lows) and the resistances set at 157.62 (October 29th highs), 158 (October 15th highs) followed by 158.74 (October 21st highs). Extending the bullish channel, the pound outperforms the yen extending the upward trendline from last August 7th lows.