18 Dec 2014
GBP/JPY advances on Stronger Retail Sales data
FXStreet (Mumbai) - The pound trades added more gains against the Japanese counterpart after UK retail sales data came in much higher than market forecasts.
Currently, the GBP/JPY pair trades at 185.34, up 0.28% on the day. The pair gained strong footing after upbeat retail sales data from UK lifted sentiments ahead of Christmas holidays. The sterling remains supported against the yen as the cable added 0.38% to trade at 1.5630 levels against US dollar following the data release.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 186.04 (200-day SMA) and above which it could extend gains to 187.16 (Dec 15 High) levels. To the downside, immediate support might be located at 184.85 (10-day SMA) and below that at 184.12 (50-day SMA) levels.
Currently, the GBP/JPY pair trades at 185.34, up 0.28% on the day. The pair gained strong footing after upbeat retail sales data from UK lifted sentiments ahead of Christmas holidays. The sterling remains supported against the yen as the cable added 0.38% to trade at 1.5630 levels against US dollar following the data release.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 186.04 (200-day SMA) and above which it could extend gains to 187.16 (Dec 15 High) levels. To the downside, immediate support might be located at 184.85 (10-day SMA) and below that at 184.12 (50-day SMA) levels.