11 Feb 2015
GBP/JPY trades above 183.00
FXStreet (Mumbai) - The Japanese yen continues to move lower across the board, taking the GBP/JPY pair well above 183.00 levels.
BOE could turn hawkish, safe havens fail to strengthen
The British Pound continues to strengthen amid expectations that the Bank of England, in its Quarterly Inflation Report due tomorrow, could revise growth forecasts higher while stressing on the positive impact of falling inflation on the UK economy.
Meanwhile, the Japanese Yen and other traditional safe haven assets continue to slide despite the presence of Greece-led uncertainty in the markets.
GBP/JPY Technical Levels
The pair currently trades 0.69% higher at 183.42 levels. The immediate resistance is seen at 183.59, above which gains could be extended to 184.64 levels. On the flip side, support is seen at 182.96, under which losses could be extended to the 50-DMA located at 181.47 levels.
BOE could turn hawkish, safe havens fail to strengthen
The British Pound continues to strengthen amid expectations that the Bank of England, in its Quarterly Inflation Report due tomorrow, could revise growth forecasts higher while stressing on the positive impact of falling inflation on the UK economy.
Meanwhile, the Japanese Yen and other traditional safe haven assets continue to slide despite the presence of Greece-led uncertainty in the markets.
GBP/JPY Technical Levels
The pair currently trades 0.69% higher at 183.42 levels. The immediate resistance is seen at 183.59, above which gains could be extended to 184.64 levels. On the flip side, support is seen at 182.96, under which losses could be extended to the 50-DMA located at 181.47 levels.