GBP/JPY capped by 20 SMA






FXStreet (Guatemala) - GBP/JPY is consolidating, currently trading at 185.79 having been as a high as 186.88 with a low of 185.70.


The crosses in the Yen have been well placed on the bid with bullish gains instigated in risk-on recoveries that left the Yen exposed for the end of the week. The BoE's sanguine tone today on recent market volatility kept the pound supported also while we await next week's BoJ at a time when markets are starting to suspect that the Central Bank may be moving towards additions easing measures in response to the deteriorating outlook for growth and inflation in Japan.


GBP/JPY levels


Technically, GBP/JPY has started to consolidate the rising channel as MACD on the hourly starts to turn less negative and the 20 DMA caps the upside on the 186 handle. Downside levels are 185.50/80 and 185.00 guarding the 200 SMA at 183.89.




Sep 11,2015
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