22 Dec 2014
GBP/JPY extends gains for the fourth consecutive session
FXStreet (Mumbai) - The British Pound has gained strength against the Japanese Yen, extending the rally for the fourth consecutive session as the Japanese benchmark yields hit April 2013 lows.
The GBP/JPY pair traded 0.25% higher at 187.17 levels, compared to the previous session’s close of 186.81 levels. The yen weakened today as the Japanese 10-year government bond yield fell to 0.335%, the lowest since April 2013 low. The drop in the yields pushed the Yen lower by 0.30% against the US dollar. Meanwhile, GBP/USD dropped from the day’s high to trade 0.06% lower at 1.5619 levels, which capped gains in the GBP/JPY pair.
GBP/JPY Technical Levels
The The pair has an immediate resistance at 187.37 (Dec. 12 high), above which gains could be extended to 187.86 levels. Meanwhile, support is seen at 186.93 and 185.91 (10-DMA).
The GBP/JPY pair traded 0.25% higher at 187.17 levels, compared to the previous session’s close of 186.81 levels. The yen weakened today as the Japanese 10-year government bond yield fell to 0.335%, the lowest since April 2013 low. The drop in the yields pushed the Yen lower by 0.30% against the US dollar. Meanwhile, GBP/USD dropped from the day’s high to trade 0.06% lower at 1.5619 levels, which capped gains in the GBP/JPY pair.
GBP/JPY Technical Levels
The The pair has an immediate resistance at 187.37 (Dec. 12 high), above which gains could be extended to 187.86 levels. Meanwhile, support is seen at 186.93 and 185.91 (10-DMA).