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7 Mar 2013
Forex: GBP/JPY in 2-week highs, around 143.00
The renewed weakness surrounding the Japanese yen is pushing the cross to the area around 143.00, printing fresh 2-week highs at the same time.
It is worth noting that the BoE left unchanged both the lending benchmark and the asset purchase programme in today’s MPC meeting, surprising investors and giving extra support to the cross.
As of writing, the pair is up 1.12% at 142.86 facing the next resistance at 143.00 MA21d) and then 143.35 (high Feb.19).
On the downside, a breach of 141.45 (high Mar.6) would aim for 140.60 (low Mar.5) and then 140.49 (Tenkan Sen line).
It is worth noting that the BoE left unchanged both the lending benchmark and the asset purchase programme in today’s MPC meeting, surprising investors and giving extra support to the cross.
As of writing, the pair is up 1.12% at 142.86 facing the next resistance at 143.00 MA21d) and then 143.35 (high Feb.19).
On the downside, a breach of 141.45 (high Mar.6) would aim for 140.60 (low Mar.5) and then 140.49 (Tenkan Sen line).