28 Apr 2015
GBP/JPY rises to 181.50
FXStreet (Mumbai) - The GBP/JPY pair is being bid higher ahead of the UK first quarter GDP data due for release later today. The pair currently trades closer to the previous session high of 181.55.
UK GDP data awaited
The investors await the UK GDP data, which could show the year-on-year GDP is seen lower at 2.6%, compared to the previous reading of 3.0%. The slight slowdown in the retail sales growth in March is likely to have pushed the GDP lower. Meanwhile, the drop in the US equities is supporting the safe haven Japanese Yen.
GBP/JPY Technical Levels
The immediate resistance is seen at 181.64, above which gains could be extended to 182.58. On the flip side, a break below 180.98 could drive the pair lower to 180.03 (200-DMA).
UK GDP data awaited
The investors await the UK GDP data, which could show the year-on-year GDP is seen lower at 2.6%, compared to the previous reading of 3.0%. The slight slowdown in the retail sales growth in March is likely to have pushed the GDP lower. Meanwhile, the drop in the US equities is supporting the safe haven Japanese Yen.
GBP/JPY Technical Levels
The immediate resistance is seen at 181.64, above which gains could be extended to 182.58. On the flip side, a break below 180.98 could drive the pair lower to 180.03 (200-DMA).