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7 Jan 2015
GBP/JPY rebounds from 2-Month lows
FXStreet (Mumbai) - The British pound advanced against the Japanese counterpart in the early European morning, bouncing-back from fresh two-month lows reached yesterday.
Currently, the GBP/JPY pair traded at 180.21 levels, up 0.43% on the day, having posted day’s low at 179.57 levels. The cross in GBP/JPY remains supported largely on yen weakness as the Japanese yen shaved its previous gains against the US dollar after risk-off mood eased a bit, to trade at 119 levels, up 0.47% on the day. While the cable trades flat at 1.5143 levels, at time of writing.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 181 and above which it could extend gains to 182.16 (5-DMA) levels. To the downside, immediate support might be located at 179.20 (Jan 6 Low) levels and below that at 178.50 levels.
Currently, the GBP/JPY pair traded at 180.21 levels, up 0.43% on the day, having posted day’s low at 179.57 levels. The cross in GBP/JPY remains supported largely on yen weakness as the Japanese yen shaved its previous gains against the US dollar after risk-off mood eased a bit, to trade at 119 levels, up 0.47% on the day. While the cable trades flat at 1.5143 levels, at time of writing.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 181 and above which it could extend gains to 182.16 (5-DMA) levels. To the downside, immediate support might be located at 179.20 (Jan 6 Low) levels and below that at 178.50 levels.