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3 Mar 2015
GBP/JPY falls below 184.00
FXStreet (Mumbai) - The British Pound weakened, taking the GBP/JPY pair below 184.00 levels despite the gains in the UK Gilt yields.
GBP/JPY: Trades below 10-DMA
The pair has dipped below the 10-DMA located at 184.00 levels as the Pound fails to strengthen on the positive action in the Gilt yields. The 10-year Gilt yield has edged higher to 1.801%, however, the gains are marginal. The pair may extend losses if the UK construction PMI for February fails to meet expectation of 59.00.
GBP/JPY Technical Levels
The pair has an immediate support located at 183.52, under which losses could be extended to 183.01 (100-DMA). On the flip side, resistance is seen at 184.26 and 184.60 levels.
GBP/JPY: Trades below 10-DMA
The pair has dipped below the 10-DMA located at 184.00 levels as the Pound fails to strengthen on the positive action in the Gilt yields. The 10-year Gilt yield has edged higher to 1.801%, however, the gains are marginal. The pair may extend losses if the UK construction PMI for February fails to meet expectation of 59.00.
GBP/JPY Technical Levels
The pair has an immediate support located at 183.52, under which losses could be extended to 183.01 (100-DMA). On the flip side, resistance is seen at 184.26 and 184.60 levels.