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31 Dec 2014
GBP/JPY trades above 5-DMA
FXStreet (Mumbai) - The British pound traded firm against the Japanese counterpart today, bouncing off from 10-day lows reached in the previous session.
Currently, the GBP/JPY pair trades higher by 0.19% at 186.32 levels, having posted day’s high at 186.38 and day’s low at 185.71. The cross in GBP/JPY remains supports as policy makers from the UK and Japan resort to diverging monetary outlooks. The Bank of Japan (BOJ) is still in an easing cycle, whereas the Bank of England is set for first rate hike in early 2015.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 187.37 (Dec 30 High) and above which it could extend gains to 187.51 (Dec 23 High) levels. To the downside, immediate support might be located at 185.99 (Dec 19 Low) levels and below that at 185 levels.
Currently, the GBP/JPY pair trades higher by 0.19% at 186.32 levels, having posted day’s high at 186.38 and day’s low at 185.71. The cross in GBP/JPY remains supports as policy makers from the UK and Japan resort to diverging monetary outlooks. The Bank of Japan (BOJ) is still in an easing cycle, whereas the Bank of England is set for first rate hike in early 2015.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 187.37 (Dec 30 High) and above which it could extend gains to 187.51 (Dec 23 High) levels. To the downside, immediate support might be located at 185.99 (Dec 19 Low) levels and below that at 185 levels.