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Forex: GBP/JPY climbs off support

By FXstreet.com,  January 08, 2013, 06:41:00 AM EDT

FXstreet.com (Barcelona) - Having made morning support at Classic S1 at 140.60, GBP/JPY has gently climbed throughout the European session.

Spot, currently trading at 140.77, has largely been unaffected by the glut of European data which has been released today and seen a decline in German Factory Orders and EU Retail Sales but improvements in EU Consumer Confidence. Hourly RSI is at 45 and moving with an upside bias and spot is approaching resistance at the 20 MA at 141. Danske analysts recommend going long at 140.75 for a 142.75 objective and a stop at 140.15.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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