28 Apr 2015
GBP/JPY drops below 181.00
FXStreet (Mumbai) - The GBP/JPY pair was offered after the weaker-than-expected UK GDP data hit the wires, taking the pair below 181.00 levels.
GBP/JPY falls to a low of 181.69
The pair turned lower from the high of 181.58 levels and extended losses further after preliminary data released by the UK Office for National Statistics (ONS) showed the growth rate in he first quarter of 2015 slowed to 0.3% quarter-on-quarter, compared to the expectation of 0.5%.
The weakest reading since Q4 2012 weakened the British Pound across the board as the 10-year Gilt yield weakened 1.664%.
GBP/JPY Technical Levels
The pair currently trades at 180.95. The immediate resistance is located at 181.60, above which gains could be extended to 182.50. On the flip side, a break below 180.65 (5-DMA), under which the pair could drop to 179.84 (100-DMA).
GBP/JPY falls to a low of 181.69
The pair turned lower from the high of 181.58 levels and extended losses further after preliminary data released by the UK Office for National Statistics (ONS) showed the growth rate in he first quarter of 2015 slowed to 0.3% quarter-on-quarter, compared to the expectation of 0.5%.
The weakest reading since Q4 2012 weakened the British Pound across the board as the 10-year Gilt yield weakened 1.664%.
GBP/JPY Technical Levels
The pair currently trades at 180.95. The immediate resistance is located at 181.60, above which gains could be extended to 182.50. On the flip side, a break below 180.65 (5-DMA), under which the pair could drop to 179.84 (100-DMA).