27 Feb 2015
GBP/JPY bounces-off from 5-DMA
FXStreet (Mumbai) - The GBP/JPY pair bounced-off from the 5-DMA located at 184.01, although gains are being capped at the 61.8% retracement of 189.68-175.47 located at 184.24 levels.
GBP/JPY: approaching hourly 50-MA
The pair is inching closer to the hourly 50-MA located at 184.26 levels. The pair was struggling to rise above 184.10 levels since the North American session yesterday. The British Pound is being supported by a 3.9 basis points rise in the 10-year Gilt yield. Meanwhile, the Japanese Yen is under pressure due to the rise in the US 10-year Treasury yields. Consequently, the GBP/JPY cross has been pushed higher to 184.22 levels; up 0.14% for the day.
GBP/JPY Technical Levels
The pair has an immediate resistance located at 184.26, above which gains could be extended to 184.82 levels. On the flip side, support is seen at 183.54 (hourly 200-MA) and 182.60 levels.
GBP/JPY: approaching hourly 50-MA
The pair is inching closer to the hourly 50-MA located at 184.26 levels. The pair was struggling to rise above 184.10 levels since the North American session yesterday. The British Pound is being supported by a 3.9 basis points rise in the 10-year Gilt yield. Meanwhile, the Japanese Yen is under pressure due to the rise in the US 10-year Treasury yields. Consequently, the GBP/JPY cross has been pushed higher to 184.22 levels; up 0.14% for the day.
GBP/JPY Technical Levels
The pair has an immediate resistance located at 184.26, above which gains could be extended to 184.82 levels. On the flip side, support is seen at 183.54 (hourly 200-MA) and 182.60 levels.