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11 Jun 2014
GBP/JPY finds support at 171.30
FXStreet (Bali) - GBP/JPY is trading at 171.42, down -0.05% on the day, having posted a daily high at 171.56 and low at 171.34, key support throughout May/June.
How strong has the move been?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish. At the time of writing, RSI is neutral at 49.44, up from 35.16 at the last hour close, while ADX is ranging at 22.80, down from 36.25 previous. Meanwhile, daily RSI is in neutral territory at 49.83. On the hourly GBP/JPY chart, the 200 SMA is climbing and currently at 171.99, up from the previous hour close at 171.51. On average, the exponential closing price for the past 20 days is 171.56, with the trend indicating a rangebound movement ahead.
What price levels and patterns have to be considered?
Next resistance can be seen at 171.51 (Daily Open + Hourly 200 SMA), 171.56 (Daily 20 SMA + Daily High) and 171.62 (Hourly 20 EMA). Support below can be found at 171.35 (Yesterday's Low + Daily Low), 171.12 (Daily Classic S1), 170.91 (Weekly Classic S1) and 170.73 (Daily Classic S2)
How strong has the move been?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish. At the time of writing, RSI is neutral at 49.44, up from 35.16 at the last hour close, while ADX is ranging at 22.80, down from 36.25 previous. Meanwhile, daily RSI is in neutral territory at 49.83. On the hourly GBP/JPY chart, the 200 SMA is climbing and currently at 171.99, up from the previous hour close at 171.51. On average, the exponential closing price for the past 20 days is 171.56, with the trend indicating a rangebound movement ahead.
What price levels and patterns have to be considered?
Next resistance can be seen at 171.51 (Daily Open + Hourly 200 SMA), 171.56 (Daily 20 SMA + Daily High) and 171.62 (Hourly 20 EMA). Support below can be found at 171.35 (Yesterday's Low + Daily Low), 171.12 (Daily Classic S1), 170.91 (Weekly Classic S1) and 170.73 (Daily Classic S2)