2 Sep 2013
GBP/JPY giving in after rising to 154.94 12-week highs
FXstreet.com (Chicago) - GBP/JPY rose on meteoric rise to top major currency market winners throughout the board. Up 148 pips so far, the pound crashes the yen ahead of retail sales in the UK and monetary base data in Japan.
300 tons of irradiated water a day
Amid rumors on Cameron’s urge to appeal to the House of Commons for repetition of US military strike vote, market participants await for BRC retail sales monitor results in the UK and the Japanese monetary base. Both releases are expected to have little effect on the psyches of participants. Japan may announce measures to take against high levels of radioactivity in water after the tragic Fukushima event. The Nuclear Emergency Response Headquarters may present steps to approach the leaks and estimates describe leaks of at least 300 tons per day. On Monday, the Nikkei 225 closed up 1.37% while in the UK the FTSE 100 closed with 1.45% gains.
GBP/JPY Technical Levels
At 154.46, the pair navigates between supports at 154.00 (August 25th highs), 153.72 (August 26th highs) ahead of 153.41 (August 23rd lows) and resistances at 154.64 (August 23rd highs), 154.94 (session highs) followed by 155.51 (May 15th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and trades above the EMA20 to maintain 7-day peaks after 23.6% Fibonacci retracement.
300 tons of irradiated water a day
Amid rumors on Cameron’s urge to appeal to the House of Commons for repetition of US military strike vote, market participants await for BRC retail sales monitor results in the UK and the Japanese monetary base. Both releases are expected to have little effect on the psyches of participants. Japan may announce measures to take against high levels of radioactivity in water after the tragic Fukushima event. The Nuclear Emergency Response Headquarters may present steps to approach the leaks and estimates describe leaks of at least 300 tons per day. On Monday, the Nikkei 225 closed up 1.37% while in the UK the FTSE 100 closed with 1.45% gains.
GBP/JPY Technical Levels
At 154.46, the pair navigates between supports at 154.00 (August 25th highs), 153.72 (August 26th highs) ahead of 153.41 (August 23rd lows) and resistances at 154.64 (August 23rd highs), 154.94 (session highs) followed by 155.51 (May 15th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and trades above the EMA20 to maintain 7-day peaks after 23.6% Fibonacci retracement.