FXstreet.com (Barcelona) - The dispute between the two main contenders in the ugly currency contest, that is, the Sterling and the Japanese Yen, is currently headed fractionally by the first from a Friday's/Monday's close-open basis.
Despite the UK downgrade by Moody's, talk that Mr. Kuroda will be appointed the next BoJ chief has moved the pair further away from its recent 1-month low at 141.33 to now stay circa 142.50, Monday's session high.
Technically, the GBP/JPY continues to trade heavy below the 20-EMA on the 4-hour chart, which comes at 142.90, an area of confluence with the major swing low breakout of last Feb 21. If buyers aim to ease the selling pressure, a sustained consolidation above the 142.90/143.00 is required. On the contrary, topside failure may expose recent trend lows.
Despite the UK downgrade by Moody's, talk that Mr. Kuroda will be appointed the next BoJ chief has moved the pair further away from its recent 1-month low at 141.33 to now stay circa 142.50, Monday's session high.
Technically, the GBP/JPY continues to trade heavy below the 20-EMA on the 4-hour chart, which comes at 142.90, an area of confluence with the major swing low breakout of last Feb 21. If buyers aim to ease the selling pressure, a sustained consolidation above the 142.90/143.00 is required. On the contrary, topside failure may expose recent trend lows.
