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17 Dec 2013
GBP/JPY losing the 167 handle?
FXstreet.com (London) - GBP/JPY had dropped through the 167.00 the figure on the session and marked a low of 166.88. However, the pair is now attempting territory back on the handle, oscillating between 166.95/05.
UK CPI slipped from 2.2% to 2.1% Y/Y in November, which was below consensus of 2.2%. Meanwhile, as strategists at RBS noted, “BoE Governor Carney's comments last week about using measures other than the base rate to tighten policy are a small GBP negative. It's also possible that this week's MPC minutes reveal toughened Forward Guidance by committee expressing more concern about GBP's continued appreciation”.
GBP/JPY Levels
The 20 DMA is 166.55, the 50 DMA is 166.45 and the 200 DMA is 154.25. Supports are ascending from 165.90, 166.60, 166.85, 167.25, 167.45. Spot is 167.06 while resistances are 168.40, 169.35, 169.80 and 170.05
UK CPI slipped from 2.2% to 2.1% Y/Y in November, which was below consensus of 2.2%. Meanwhile, as strategists at RBS noted, “BoE Governor Carney's comments last week about using measures other than the base rate to tighten policy are a small GBP negative. It's also possible that this week's MPC minutes reveal toughened Forward Guidance by committee expressing more concern about GBP's continued appreciation”.
GBP/JPY Levels
The 20 DMA is 166.55, the 50 DMA is 166.45 and the 200 DMA is 154.25. Supports are ascending from 165.90, 166.60, 166.85, 167.25, 167.45. Spot is 167.06 while resistances are 168.40, 169.35, 169.80 and 170.05