6 Jan 2015
GBP/JPY hits 2-Month Lows
FXStreet (Mumbai) - The British pound dropped to two-month low against the Japanese counterpart in the early European morning, after the Japanese yen corrected its previous losses against the US dollar as traders ran to the safe-haven currency amid falling oil prices and declining stock markets.
Currently, the GBP/JPY pair traded at 181.53 levels, down -0.50% on the day, having posted a new two-month low at 181.19 levels an hour ago. The cross in GBP/JPY remains pressured supported largely on yen strength as the Japanese yen gains against the US dollar to trade at 118.96 levels, down -0.56% on the day. While the cable trades flat at 1.5252 levels, at time of writing.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 182.69 (Nov 14 High) and above which it could extend gains to 183.77 (5-DMA) levels. To the downside, immediate support might be located at 181 levels and below that at 180.67 (100-DMA) levels.
Currently, the GBP/JPY pair traded at 181.53 levels, down -0.50% on the day, having posted a new two-month low at 181.19 levels an hour ago. The cross in GBP/JPY remains pressured supported largely on yen strength as the Japanese yen gains against the US dollar to trade at 118.96 levels, down -0.56% on the day. While the cable trades flat at 1.5252 levels, at time of writing.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 182.69 (Nov 14 High) and above which it could extend gains to 183.77 (5-DMA) levels. To the downside, immediate support might be located at 181 levels and below that at 180.67 (100-DMA) levels.