22 Jan 2015
GBP/JPY trades above 5-DMA
FXStreet (Mumbai) - The pound trades flat against the Japanese yen, erasing gains from the Asian session as the yen continues to recover losses versus the US dollar.
Currently, the GBP/JPY pair trades flat at 178.72 levels, retreating from intraday high of 179.23 hit earlier in the day. The cross in GBP/JPY steadies largely as yen recovered partial losses against the greenback. USD/JPY trades at 118.11, up 0.13% on the day. While, GBP/USD traded flat at 1.5137 levels, as of writing.
Meanwhile, traders now eye ECB Meeting later in the session for further moves on the cross.
GBP/JPY Levels to consider
To the upside, the next resistance is located at 180.02 (Jan 21 High) and above which it could extend gains to at 180.34 (Jan 20 High) levels. To the downside immediate support might be located at 178.06 levels below that at 177.45 levels.
Currently, the GBP/JPY pair trades flat at 178.72 levels, retreating from intraday high of 179.23 hit earlier in the day. The cross in GBP/JPY steadies largely as yen recovered partial losses against the greenback. USD/JPY trades at 118.11, up 0.13% on the day. While, GBP/USD traded flat at 1.5137 levels, as of writing.
Meanwhile, traders now eye ECB Meeting later in the session for further moves on the cross.
GBP/JPY Levels to consider
To the upside, the next resistance is located at 180.02 (Jan 21 High) and above which it could extend gains to at 180.34 (Jan 20 High) levels. To the downside immediate support might be located at 178.06 levels below that at 177.45 levels.