15 Sep 2015
GBP/JPY stays below 185.00, awaits UK data
FXStreet (Mumbai) - The GBP/JPY pair continues to trade below 185.00 levels ahead of the data in the UK, which could show the cost of living rebounded in August.
Fails to sustain above 200-DMA
The cross failed to sustain above its 200-DMA located at 185.43 levels earlier today. The Yen remained bid due to the losses in the Asian equities and uncertainty surrounding the Fed rate decision on Thursday. Furthermore, BOJ governor Kuroda failed to deliver any new message in his press conference.
The focus now shifts to the UK CPI figure for August. The cost of living is seen rebounding month-on-month, while year-on-year the CPI is seen stalling.
GBP/JPY Technical Levels
The pair currently trades around 184.55. The immediate support is seen at 184.16 (10-DMA), under which the pair could drop to 183.21 (Aug 24 low). On the other side, resistance is seen at 185.43 (200-DMA) and 186.00 levels.
Fails to sustain above 200-DMA
The cross failed to sustain above its 200-DMA located at 185.43 levels earlier today. The Yen remained bid due to the losses in the Asian equities and uncertainty surrounding the Fed rate decision on Thursday. Furthermore, BOJ governor Kuroda failed to deliver any new message in his press conference.
The focus now shifts to the UK CPI figure for August. The cost of living is seen rebounding month-on-month, while year-on-year the CPI is seen stalling.
GBP/JPY Technical Levels
The pair currently trades around 184.55. The immediate support is seen at 184.16 (10-DMA), under which the pair could drop to 183.21 (Aug 24 low). On the other side, resistance is seen at 185.43 (200-DMA) and 186.00 levels.