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26 Aug 2013
GBP/JPY giving in gains
FXstreet.com (Chicago) - GBP/JPY accumulates 0.16% daily gains so far but price action indicates unbearable bearish pressure. The Nikkei opened 0.2% higher but backed off to 0.03% gains.
The FXstreet.com trend index reports the pair as strongly bearish on one-hour timeframe analysis despite 0.16% daily advancements. Price action indicates the pound is giving in to a stronger yen as journey continues to advance. In Japan the Nikkei opened 0.2% stronger amid speculations on potential timing and amount of Fed’s tapering in the United States. At 153.69, the pair navigates between supports at 153.60 (August 21st highs), 153.43 (July 19th highs) ahead of 153.30 (August 15th highs) and resistances at 153.81 (August 20th highs), 154.00 (July 24th highs) followed by 154.21 (June 10th highs).
In Japan the corporate service price (YoY) for the month of June matched projections at 0.40%. No data is due today in the UK due to bank holiday in the region.
The FXstreet.com trend index reports the pair as strongly bearish on one-hour timeframe analysis despite 0.16% daily advancements. Price action indicates the pound is giving in to a stronger yen as journey continues to advance. In Japan the Nikkei opened 0.2% stronger amid speculations on potential timing and amount of Fed’s tapering in the United States. At 153.69, the pair navigates between supports at 153.60 (August 21st highs), 153.43 (July 19th highs) ahead of 153.30 (August 15th highs) and resistances at 153.81 (August 20th highs), 154.00 (July 24th highs) followed by 154.21 (June 10th highs).
In Japan the corporate service price (YoY) for the month of June matched projections at 0.40%. No data is due today in the UK due to bank holiday in the region.