19 Dec 2014
GBP/JPY at day high after BOJ stands pat
FXStreet (Mumbai) - The GBP/JPY pair rose to the day’s high after the Bank of Japan (BOJ) maintained the annual monetary base target unchanged at JPY 80 trillion, while upgrading the economic assessment.
The pair now trades 0.31% higher at 186.81 levels, despite the outcome of the policy was in line with the market expectations. The bank has raised its assessment on output and exports, while stating that the economy continues to recover with effect of sales tax hike waning as a whole. The USD/JPY rose to 119.27 levels, while the GBP/USD pair trades largely unchanged for the day at 1.5650 levels.
GBP/JPY Technical Levels
The pair has an immediate resistance located at 187.06 (Dec. 15 high), above which gains could be extended to 187.86 (Dec. 10 high). Meanwhile, support is seen at 186.06 (5-DMA) and 185.42 levels.
The pair now trades 0.31% higher at 186.81 levels, despite the outcome of the policy was in line with the market expectations. The bank has raised its assessment on output and exports, while stating that the economy continues to recover with effect of sales tax hike waning as a whole. The USD/JPY rose to 119.27 levels, while the GBP/USD pair trades largely unchanged for the day at 1.5650 levels.
GBP/JPY Technical Levels
The pair has an immediate resistance located at 187.06 (Dec. 15 high), above which gains could be extended to 187.86 (Dec. 10 high). Meanwhile, support is seen at 186.06 (5-DMA) and 185.42 levels.