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GBP/JPY capped by engulfing flag

FXStreet (Guatemala) - GBP/JPY is trading at 173.97, down -0.01% on the day, having posted a daily high at 174.14 and low at 173.79.

The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish with a daily engulfing flag printed offering a bearish/neutral outlook. Meanwhile, daily RSI is in neutral territory as well at 59.15. On the hourly GBP/JPY chart, the 200 SMA is climbing. Markets will be turning their attention to the Bank of Japan Governor Haruhiko Kuroda who will talk at a press conference about monetary policies in Tokyo and later this week, we get CPI’s from the UK tomorrow and the count down to the Scottish Independence Referendum date on Thursday 18 September 2014 has begun.

GBP/JPY near term levels

With spot trading at 173.97, we can see next resistance ahead at 174.05 (Hourly 20 EMA), 174.14 and 174.47 (Daily Classic R1). Support below can be found at 173.79, 173.68 (Daily Classic S1), 173.37 (Daily Classic S2) and 173.33 (Hourly 100 SMA).

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