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10 Jun 2014
GBP/JPY testing downside to uptrending support line
FXStreet (Guatemala) - GBP/JPY is trading at 172.08, down -0.09% on the day, having posted a daily high at 172.36 and low at 172.11.
GBP/JPY has been offered ahead of 172.40 where the end of last weeks business was done and remains and is currently testing the uptrending support line from below 171.35. For the day ahead, we will turn to the UK where industrial production is expected +0.4% MoM and 2.8% YoY with manufacturing seen +4.0% YoY. Analysts at Rbobank said, “ surely when even UK manufacturing is growing the BoE needs to pay attention?”.
GBP/JPY Levels
Spot is presently trading at 172.12, and next resistance can be seen at 172.23 (Hourly 20 EMA), 172.28 (Monthly High), 172.28 (Weekly High), 172.28 (Daily Classic PP) and 172.28 (Daily Open). Support below can be found at 172.11 (Daily Low), 172.01 (Hourly 100 SMA), 172.00 (Yesterday's Low), 172.00 (Daily Classic S1) and 171.73 (Weekly Classic PP).
GBP/JPY has been offered ahead of 172.40 where the end of last weeks business was done and remains and is currently testing the uptrending support line from below 171.35. For the day ahead, we will turn to the UK where industrial production is expected +0.4% MoM and 2.8% YoY with manufacturing seen +4.0% YoY. Analysts at Rbobank said, “ surely when even UK manufacturing is growing the BoE needs to pay attention?”.
GBP/JPY Levels
Spot is presently trading at 172.12, and next resistance can be seen at 172.23 (Hourly 20 EMA), 172.28 (Monthly High), 172.28 (Weekly High), 172.28 (Daily Classic PP) and 172.28 (Daily Open). Support below can be found at 172.11 (Daily Low), 172.01 (Hourly 100 SMA), 172.00 (Yesterday's Low), 172.00 (Daily Classic S1) and 171.73 (Weekly Classic PP).