16 Feb 2015
GBP/JPY trades below 183.00
FXStreet (Mumbai) - The GBP/JPY pair fell below 183.00 levels amid lack of fresh fundamental triggers in the UK and caution ahead of the Eurogroup meeting in the Brussels later today.
Erases gains, trades below 5-DMA
The pair topped out at 183.19 levels at the onset of the European session, eventually dropping below the 5-DMA located at 182.89 levels. The pair has also dipped below the hourly 100-SMA located at 182.70 levels. Moreover, their markets could turn risk averse ahead of the Eurogroup meeting as the investors doubt whether the stalemate between Greece and its Eurozone creditors would end today. The risk aversion could help the Japanese Yen gain strength.
GBP/JPY Technical Levels
The immediate support is seen at 182.40, under which losses could be extended to 181.78 levels. On the flip side, a rise above hourly 100-SMA at 182.70, could open doors for a re-test of the daily high at 183.19 levels.
Erases gains, trades below 5-DMA
The pair topped out at 183.19 levels at the onset of the European session, eventually dropping below the 5-DMA located at 182.89 levels. The pair has also dipped below the hourly 100-SMA located at 182.70 levels. Moreover, their markets could turn risk averse ahead of the Eurogroup meeting as the investors doubt whether the stalemate between Greece and its Eurozone creditors would end today. The risk aversion could help the Japanese Yen gain strength.
GBP/JPY Technical Levels
The immediate support is seen at 182.40, under which losses could be extended to 181.78 levels. On the flip side, a rise above hourly 100-SMA at 182.70, could open doors for a re-test of the daily high at 183.19 levels.