24 Jun 2014
GBP/JPY: Consolidation above 173.00/20 support
FXStreet (Bali) - GBP/JPY is trading at 173.41, down -0.09% since the close of New York, having posted a daily high at 173.60 and low at 173.37, with key intraday support at 173.20.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 41.25, down from 44.55 at the last hour close, while ADX is trending at 34.90, up from 22.44 previous. Meanwhile, daily RSI is in neutral territory at 65.28. On the hourly GBP/JPY chart, the 200 SMA is climbing and currently at 173.64, up from the previous hour close at 172.95.
Jim Langlands, Founder at FXCharts, notes: "The cross has yet to reach the 2 Jan 174.83 high. The dailies look good for further gains although the weeklies are less convincing and it could be that in the short term we are in for more 172/174 consolidation. A long as the rising trend support at around 171.75 holds, then I suspect we may be in for a slow grind higher."
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 41.25, down from 44.55 at the last hour close, while ADX is trending at 34.90, up from 22.44 previous. Meanwhile, daily RSI is in neutral territory at 65.28. On the hourly GBP/JPY chart, the 200 SMA is climbing and currently at 173.64, up from the previous hour close at 172.95.
Jim Langlands, Founder at FXCharts, notes: "The cross has yet to reach the 2 Jan 174.83 high. The dailies look good for further gains although the weeklies are less convincing and it could be that in the short term we are in for more 172/174 consolidation. A long as the rising trend support at around 171.75 holds, then I suspect we may be in for a slow grind higher."