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16 Dec 2014
GBP/JPY trades near 1-month low levels
FXStreet (Mumbai) - The pound lost ground against the Japanese counterpart and fell close to one month low levels after Japanese yen regained strength versus US dollar.
Currently, the GBP/JPY pair trades at 183.05, down -0.65% on the day, after having hit day’s low of 181.66 levels couple of hours ago. The GBP/JPY pair remains pressured as the Japanese yen continues its rise against the US dollar, taking USD/JPY to 116.58 levels, down -1.06% on the day. Adding to the downside in GBP/JPY, the pound remained pressured on sharp deceleration seen in UK CPI inflation numbers.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 183.60 (10-day SMA) and above which it could extend gains to 183.98 (20-day SMA) levels. To the downside, immediate support might be located at 182.46 (Nov 19 Low) and below that at 181.04 (Nov 17 Low) levels.
Currently, the GBP/JPY pair trades at 183.05, down -0.65% on the day, after having hit day’s low of 181.66 levels couple of hours ago. The GBP/JPY pair remains pressured as the Japanese yen continues its rise against the US dollar, taking USD/JPY to 116.58 levels, down -1.06% on the day. Adding to the downside in GBP/JPY, the pound remained pressured on sharp deceleration seen in UK CPI inflation numbers.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 183.60 (10-day SMA) and above which it could extend gains to 183.98 (20-day SMA) levels. To the downside, immediate support might be located at 182.46 (Nov 19 Low) and below that at 181.04 (Nov 17 Low) levels.