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14 Aug 2013
GBP/JPY retreating – will 152.00 zone held on to bears?
FXstreet.com (Chicago) - GBP/JPY was dragged formidably above 152.00 earlier today post BoE vote hike and positive job market data in the UK.
The BoE maintained its vote at 9 along a positive claimant count change for July at -29.2K vs. previous -29.2K and an increment in the average earnings (bonus included) results at 2.1% vs. expected 2.0%. In Japan, foreign bond investment data is to be released later in the day.
Price action indicates the pair retraced from 152.58 intraday highs and has been unable to break above 152.50 zone despite several attempts. At 152.12, the pair trades between supports at 152.05 (July 17th highs), 151.76 (June 20th highs) ahead of 151.55 (July 8th highs) and resistances at 152.33 (July 29th lows), 152.65 (July 3rd highs) followed by 152.96 (July 2nd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis as it maintains 0.43% gains since this morning around 2-week highs.
The BoE maintained its vote at 9 along a positive claimant count change for July at -29.2K vs. previous -29.2K and an increment in the average earnings (bonus included) results at 2.1% vs. expected 2.0%. In Japan, foreign bond investment data is to be released later in the day.
Price action indicates the pair retraced from 152.58 intraday highs and has been unable to break above 152.50 zone despite several attempts. At 152.12, the pair trades between supports at 152.05 (July 17th highs), 151.76 (June 20th highs) ahead of 151.55 (July 8th highs) and resistances at 152.33 (July 29th lows), 152.65 (July 3rd highs) followed by 152.96 (July 2nd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis as it maintains 0.43% gains since this morning around 2-week highs.