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24 Dec 2014
GBP/JPY steadies, support seen at 5-DMA
FXStreet (Mumbai) - The single currency traded in a narrow range against the Japanese counterpart today, extending gains for the fifth straight session.
Currently, the GBP/JPY pair trades unchanged at 187.32 levels, after hitting day’s low 186.63 earlier in the day. The Pound remains under pressure against the yen, as the Japanese currency rebounds from two-week lows against the US dollar. The yen may also remain supported against the US dollar and the crosses ahead of Bank of Japan’s (BOJ) Governor Kuroda speech due tomorrow.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 187.51 (Dec 23 High) and above which it could extend gains to 188 levels. To the downside, immediate support might be located at 187.09 (5-DMA) and below that at 185.99 (10-DMA) levels.
Currently, the GBP/JPY pair trades unchanged at 187.32 levels, after hitting day’s low 186.63 earlier in the day. The Pound remains under pressure against the yen, as the Japanese currency rebounds from two-week lows against the US dollar. The yen may also remain supported against the US dollar and the crosses ahead of Bank of Japan’s (BOJ) Governor Kuroda speech due tomorrow.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 187.51 (Dec 23 High) and above which it could extend gains to 188 levels. To the downside, immediate support might be located at 187.09 (5-DMA) and below that at 185.99 (10-DMA) levels.