9 Jan 2015
GBP/JPY rejected by 100-DMA
FXStreet (Mumbai) - The GBP/JPY pair failed to extend gains above the 100-DMA located at 180.81 for the second consecutive session as falling treasury yields in the US helped the Yen gain strength across the board.
The pair currently trades 0.17% lower at 180.24 levels, compared to the previous session’s close at 180.56. The Japanese Yen has been pushed up across the board as the 10-year Treasury yield in the US weakened 1.2 basis points to 2.004%, from the yesterday’s New York closing at 2.03%. Consequently, the USD/JPY pair has weakened 0.25% to trade at 119.36 levels. Meanwhile, the GBP/USD pair trades marginally positive ahead of the UK Industrial production and Trade balance data.
GBP/JPY Technical Levels
The immediate support is seen at 179.96, under which the pair could re-test 179.57 levels. Meanwhile, resistance is seen at 180.81 (100-DMA) and 181.66 levels.
The pair currently trades 0.17% lower at 180.24 levels, compared to the previous session’s close at 180.56. The Japanese Yen has been pushed up across the board as the 10-year Treasury yield in the US weakened 1.2 basis points to 2.004%, from the yesterday’s New York closing at 2.03%. Consequently, the USD/JPY pair has weakened 0.25% to trade at 119.36 levels. Meanwhile, the GBP/USD pair trades marginally positive ahead of the UK Industrial production and Trade balance data.
GBP/JPY Technical Levels
The immediate support is seen at 179.96, under which the pair could re-test 179.57 levels. Meanwhile, resistance is seen at 180.81 (100-DMA) and 181.66 levels.