20 Jan 2015
GBP/JPY trades above 10-DMA
FXStreet (Mumbai) - The British pound climbed higher versus the Japanese counterpart, snapping losses from the previous session as the yen falls against the US dollar.
Currently, the GBP/JPY pair traded at 178.63 levels, up 0.54% on the day, having posted day’s high at 179.69 some minutes ago. The cross in GBP/JPY erased previous losses and edged higher largely on yen weakness ahead of Bank of Japan’s (BOJ) monetary policy decision due tomorrow. Moreover, the downside in GBP/JPY looks limited as the yen continues to extend losses against the greenback.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 179 and above which it could extend gains to 179.62 levels. To the downside, immediate support might be located at 178.06 levels and below that at 177.81 (5-DMA) levels.
Currently, the GBP/JPY pair traded at 178.63 levels, up 0.54% on the day, having posted day’s high at 179.69 some minutes ago. The cross in GBP/JPY erased previous losses and edged higher largely on yen weakness ahead of Bank of Japan’s (BOJ) monetary policy decision due tomorrow. Moreover, the downside in GBP/JPY looks limited as the yen continues to extend losses against the greenback.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 179 and above which it could extend gains to 179.62 levels. To the downside, immediate support might be located at 178.06 levels and below that at 177.81 (5-DMA) levels.