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17 Sep 2013
GBP/JPY deflates below 157.70 zone
FXstreet.com (Chicago) - GBP/JPY was unable to sustain rally and head down at the closing of Wall Street. Price action reveals a trending range with higher lows on steady climb after 157.39 lows visit. The pair was limited by the 158.00 zone to extend inconclusive retracement.
Equities, UK data
Earlier in the UK, the core consumer price index was released at 2.0% (YoY) vs. past 2.1%. The CPI (MoM) was 2.7%, matching expectations. The PPI core output (YoY) was 1.0% vs. estimates at 1.1% while the PPI –input was 2.8% (YoY) and the PPI- output was 1.6% vs. past 2.1% and expected 2.1%. The retail price index was 3.3% beating expected 3.2%. The FTSE 100 closed with 0.80% losses. In Japan, the Nikkei started strong after holiday but was dragged to close with 0.65% losses.
GBP/JPY Technical Levels
After trading sideways and quiet yesterday, the pair registered higher upswings reaching the 158 zone again (September 12th highs). Unable to break through resistance, the pair is offered at 157.67 and oscillates between supports at 157.62 (September 12th highs), 157.31 (September 16th lows) ahead of 156.93 (September 13th lows) and resistances aligned at 158.51 (session highs), 158.10 (September 11th highs) followed by 159 (key psychological). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe with a neutral EMA20.
Equities, UK data
Earlier in the UK, the core consumer price index was released at 2.0% (YoY) vs. past 2.1%. The CPI (MoM) was 2.7%, matching expectations. The PPI core output (YoY) was 1.0% vs. estimates at 1.1% while the PPI –input was 2.8% (YoY) and the PPI- output was 1.6% vs. past 2.1% and expected 2.1%. The retail price index was 3.3% beating expected 3.2%. The FTSE 100 closed with 0.80% losses. In Japan, the Nikkei started strong after holiday but was dragged to close with 0.65% losses.
GBP/JPY Technical Levels
After trading sideways and quiet yesterday, the pair registered higher upswings reaching the 158 zone again (September 12th highs). Unable to break through resistance, the pair is offered at 157.67 and oscillates between supports at 157.62 (September 12th highs), 157.31 (September 16th lows) ahead of 156.93 (September 13th lows) and resistances aligned at 158.51 (session highs), 158.10 (September 11th highs) followed by 159 (key psychological). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe with a neutral EMA20.