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GBP/JPY looking ill on 172 handle

FXStreet (Barcelona) - GBP/JPY is trading at 172.09, up 0.14% on the day, having posted a daily high at 172.18 and low at 171.74.

GBP/JPY has built a position back onto the 172 handle while spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. “The yen, was the top G10FX player last week as yields fell and equities wobbled," explained Kit Juckes, Global Head of Currency Strategy at Societe Generale. "The positioning and charts say we can go further. GBP/JPY looks ill…. Mark Carney sounds dovish, inflation expectations are down, even if unemployment is falling. I still don't like sterling."

GBP/JPY noteworthy levels

Current price is 172.10, with resistance ahead at 172.18 (Daily High), 172.42 (Hourly 20 EMA), 172.53 (Daily Classic S1), 173.04 and 173.07. Next support to the downside can be found at 172.04 (Weekly Classic S1), 172.01 (Daily 200 SMA), 172.00 (Daily Classic S2), 171.85 (Daily Open) and 171.74.

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