2 Feb 2015
GBP/JPY trades at 200-DMA
FXStreet (Mumbai) - GBP/JPY trimmed gains from the previous session, heading towards the European opening bells as the yen recovers partial losses versus the greenback.
Back above 177 levels
Currently, the GBP/JPY cross traded at 177.39 levels, up 0.21% on the day, moving away from day’s low posted at 176.50. The cross in GBP/JPY gained largely on the yen weakness as the USD bulls jumped back in to bids after sliding on Friday post the dismal US growth numbers. As of writing, USD/JPY trades at 117.66 levels, up 0.14% on the day, while GBP/USD trades flat 1.5073.
Meanwhile, traders now await a series of crucial UK economic releases and the Bank of England meeting later this week for further momentum on the cross.
GBP/JPY Levels to consider
To the upside, the next resistance is located at 177.73 and above which it could extend gains to at 178.60 levels. To the downside immediate support might be located at 176.50 levels below that at 176.06 levels.
Back above 177 levels
Currently, the GBP/JPY cross traded at 177.39 levels, up 0.21% on the day, moving away from day’s low posted at 176.50. The cross in GBP/JPY gained largely on the yen weakness as the USD bulls jumped back in to bids after sliding on Friday post the dismal US growth numbers. As of writing, USD/JPY trades at 117.66 levels, up 0.14% on the day, while GBP/USD trades flat 1.5073.
Meanwhile, traders now await a series of crucial UK economic releases and the Bank of England meeting later this week for further momentum on the cross.
GBP/JPY Levels to consider
To the upside, the next resistance is located at 177.73 and above which it could extend gains to at 178.60 levels. To the downside immediate support might be located at 176.50 levels below that at 176.06 levels.