1 Dec 2014
GBP/JPY hits fresh 6-year highs
FXStreet (Córdoba) - GBP/JPY reversed after the release of economic data from the United Kingdom and rose from 185.01 to 186.30, reaching the strongest level in six years. The pair remains near the highs and is moving within a trading range with support at 185.90 and residence at 186.30.
The UK Markit PMI rose in November to 53.5; analysts were expecting a reading of 53.0. The better-than-expected data boosted the pound across the board. While the yen was affected by Moody’s downgrade of Japan’s credit rating.
GBP/JPY approaching 190.00
Last month, GBP/JPY posted the third monthly gain in a row and the strongest close since September 2008. Since the beginning of the year has risen 1200 pips. The next long term resistance lies around the 190.00 zone.
The UK Markit PMI rose in November to 53.5; analysts were expecting a reading of 53.0. The better-than-expected data boosted the pound across the board. While the yen was affected by Moody’s downgrade of Japan’s credit rating.
GBP/JPY approaching 190.00
Last month, GBP/JPY posted the third monthly gain in a row and the strongest close since September 2008. Since the beginning of the year has risen 1200 pips. The next long term resistance lies around the 190.00 zone.