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19 Mar 2014
GBP/JPY drifting south, losing 169 handle
FXStreet (Guatemala) - Sterling had the BoE today that underpinned the pounds strength on the European session, lifting GBP/JPY to a high of 169.14.
The minutes revealed that the UK economy is broadening its recovery but there is still some way to go before the recovery is sustainable and balanced. Meanwhile, markets are nervous ahead of the sales ta hike on 1st April.
GBP/JPY Levels
The 20 DMA is 170.45, the 50 DMA is 170.05 and the 200 DMA is 160.90. RSI (14) reads 53.25. Supports are ascending from 166.15,166.80, 167.20 and 167.55. Spot is 168.80 while resistances are 169.20, 169.60,170.20 and 171.60.
The minutes revealed that the UK economy is broadening its recovery but there is still some way to go before the recovery is sustainable and balanced. Meanwhile, markets are nervous ahead of the sales ta hike on 1st April.
GBP/JPY Levels
The 20 DMA is 170.45, the 50 DMA is 170.05 and the 200 DMA is 160.90. RSI (14) reads 53.25. Supports are ascending from 166.15,166.80, 167.20 and 167.55. Spot is 168.80 while resistances are 169.20, 169.60,170.20 and 171.60.