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8 Mar 2013
Forex: GBP/JPY heads south post NFP boom
GBP/JPY has rapidly climbed since yesterday morning from 140.60 to 144.16 this morning ahead of today´s NFPs.
However, following astounding NFP and unemployment figures (265k/160k & 7.7%/7.9% respectively), the pair shot high to post a new high at 144.68, a high since January 2009 nonetheless, before sharply declining to where it is currently trading at 143.56, just above the hourly 610 MA at 143.47. Hourly RSI had previously been touching overbought territory at 80 and has since declined sharply to 63.
However, following astounding NFP and unemployment figures (265k/160k & 7.7%/7.9% respectively), the pair shot high to post a new high at 144.68, a high since January 2009 nonetheless, before sharply declining to where it is currently trading at 143.56, just above the hourly 610 MA at 143.47. Hourly RSI had previously been touching overbought territory at 80 and has since declined sharply to 63.