Talking Points: GBP/JPY Technical Strategy: FlatSupport: 172.00 (61.8% Fib exp.), 171.53 (50% Fib exp.)Resistance: 172.21 (trend line), 172.59 (76.4% Fib exp.) The British Pound managed to claw its way back above the 172.00 level against the Japanese Yen on the back of supportive rhetoric from BOE Governor Carney. Prices are testing resistance at 172.21 marked by a falling trend line set from January. A daily close above this barrier initially exposes ...
As Alibaba Prepares for IPO, Tech Stocks Retreat It's a tough time for a tech debut. As e-commerce giant Alibaba gets ready for a blockbuster stock sale in the next few months, technology shares are retreating. For two years, investors bid up biotechnology and internet companies, enticed by their strong growth prospects in an otherwise weak U.S. recovery. But they have sold off those stocks since late February, realizing they can find better value elsewhere. So-called ...
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