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19 Dec 2013
GBP/JPY stretches past 170.00, sets stage for further gains
FXstreet.com (Bali) - GBP/JPY rose into fresh 2013 highs, in sympathy with all the bearish swings seen in the Yen complex, although if compared to its peers, this cross was by far the out-performer up more than 400 pips.
The perfect bullish storm
GBP/JPY saw steady bids throughout the day, as two first-tier events, that is, upbeat UK jobs data paired with Yen-negative-Fed-taper moves, took the cross on an extraordinary journey into higher ground, recovering from a low of 166.5 (capped by 20-day EMA) up to 172.19, new trend highs.
Ichimoku points indisputably north
Ichimoku aficionados, plenty in the Asian continent, are being given bullish continuation signals in all timeframes, and any shallow pullback in early Asia most likely to turn into an excellent opportunity to buy at cheaper prices to jump on the Yen bear bandwagon. The clearest point of support is the round number 170.00, where solid bids are expected.
The perfect bullish storm
GBP/JPY saw steady bids throughout the day, as two first-tier events, that is, upbeat UK jobs data paired with Yen-negative-Fed-taper moves, took the cross on an extraordinary journey into higher ground, recovering from a low of 166.5 (capped by 20-day EMA) up to 172.19, new trend highs.
Ichimoku points indisputably north
Ichimoku aficionados, plenty in the Asian continent, are being given bullish continuation signals in all timeframes, and any shallow pullback in early Asia most likely to turn into an excellent opportunity to buy at cheaper prices to jump on the Yen bear bandwagon. The clearest point of support is the round number 170.00, where solid bids are expected.