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24 Feb 2015
GBP/JPY on its way to 184
FXStreet (Mumbai) - GBP/JPY advanced gradually during the Asian session, extending gains from the previous session largely on yen weakness.
GBP/JPY supported above 5-DMA placed at 183.47 levels
Currently, the GBP/JPY cross traded at 183.85 levels, up 0.11% on the day, retreating from fresh session highs previously posted at 183.93 levels. The cross in GBP/JPY edged higher mainly due a falling Japanese yen against the US dollar before Yellen’s testimony later in the day.
On the other hand, the pound too remains subdued on a broadly stronger US dollar. While traders await Inflation Report Hearings later in the session. As of writing, USD/JPY trades higher by 0.26% at 119.11 levels, while GBP/USD trades lower by -0.13% at 1.5436.
GBP/JPY Levels to consider
To the upside, the next resistance is located at 184.28 and above which it could extend gains to at 184.87 levels. To the downside immediate support might be located at 183.47 (5-DMA) levels below that at 183.15 (10-DMA) levels.
GBP/JPY supported above 5-DMA placed at 183.47 levels
Currently, the GBP/JPY cross traded at 183.85 levels, up 0.11% on the day, retreating from fresh session highs previously posted at 183.93 levels. The cross in GBP/JPY edged higher mainly due a falling Japanese yen against the US dollar before Yellen’s testimony later in the day.
On the other hand, the pound too remains subdued on a broadly stronger US dollar. While traders await Inflation Report Hearings later in the session. As of writing, USD/JPY trades higher by 0.26% at 119.11 levels, while GBP/USD trades lower by -0.13% at 1.5436.
GBP/JPY Levels to consider
To the upside, the next resistance is located at 184.28 and above which it could extend gains to at 184.87 levels. To the downside immediate support might be located at 183.47 (5-DMA) levels below that at 183.15 (10-DMA) levels.