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11 May 2015
GBP/JPY retraces from session highs
FXStreet (Mumbai) - The GBP/JPY pair retraced from the high of 185.75 after the Bank of England kept its key policy toll unchanged as expected by the markets.
Trades below 185.50, Eyes quarterly inflation report
The pair eased from the session high to trade below 185.50 as the markets now await the BOE quarterly inflation report due for release on Wednesday. Moreover, the Pound had witnessed a buying interest ahead of the BOE decision, which has now faded away.
Ahead in the day, the pair lacks any major fundamental trigger. A slight volatility could be seen tomorrow after the release of UK industrial production data.
GBP/JPY Technical Levels
The immediate resistance is located at 185.75, above which gains could be extended to 186.70. On the flip side, a break below 184.55 could drive the pair lower to 182.60.
Trades below 185.50, Eyes quarterly inflation report
The pair eased from the session high to trade below 185.50 as the markets now await the BOE quarterly inflation report due for release on Wednesday. Moreover, the Pound had witnessed a buying interest ahead of the BOE decision, which has now faded away.
Ahead in the day, the pair lacks any major fundamental trigger. A slight volatility could be seen tomorrow after the release of UK industrial production data.
GBP/JPY Technical Levels
The immediate resistance is located at 185.75, above which gains could be extended to 186.70. On the flip side, a break below 184.55 could drive the pair lower to 182.60.