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28 Aug 2013
GBP/JPY rebounds off lows on Carney speech
FXstreet.com (New York) - The GBP/JPY technical cross was suffering from heavy losses early on, now pared on the heels of the recent BoE insights Wednesday.
In the UK, Mark Carney stated that the UK recovery broad-based and forward guidance does not prevent BoE from adding to stimulus; he also championed the BOE to relax liquidity rules for banks meeting 7% capital level.
GBP/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/JPY steadied below 151.40, altering the intraday trend to bearishness, which will target preliminarily areas of 149.20. Momentum indicators' positivity may push for a retest to 151.40 – stability above that level maintains the expected downside bias valid.
GBP/JPY technical levels
After bouncing off an earlier depth of 150.48 (intraday low), the GBP/JPY has recovered the mark of 151.38 in these moments, now notching a gain of +0.31% above its opening. Briefing the technicals, the GBP/JPY will encounter resistance at 151.85, onto 152.72, notes the Mataf.net analyst team.
In the UK, Mark Carney stated that the UK recovery broad-based and forward guidance does not prevent BoE from adding to stimulus; he also championed the BOE to relax liquidity rules for banks meeting 7% capital level.
GBP/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The GBP/JPY steadied below 151.40, altering the intraday trend to bearishness, which will target preliminarily areas of 149.20. Momentum indicators' positivity may push for a retest to 151.40 – stability above that level maintains the expected downside bias valid.
GBP/JPY technical levels
After bouncing off an earlier depth of 150.48 (intraday low), the GBP/JPY has recovered the mark of 151.38 in these moments, now notching a gain of +0.31% above its opening. Briefing the technicals, the GBP/JPY will encounter resistance at 151.85, onto 152.72, notes the Mataf.net analyst team.