25 May 2015
GBP/JPY falls to 187.80
FXStreet (Mumbai) - The GBP/JPY pair extended losses to hit a fresh session low of 187.80 levels, after being rejected earlier today at 188.58 levels.
GBP/JPY – trades below hourly 200-MA
The pair now trades below its hourly 200-MA currently located at 188.07. The said average acted as strong support earlier today, since the pair bounced-off the same to clock an intraday high of 188.58 levels. Moreover, the Japanese Yen had come under pressure earlier today, even though Japanese exports beat expectations in April to rise 8%.
However, since European morning the Yen has managed to make a comeback across the board. The pair is unlikely to much action in the North American session on account of a trading holiday in the US.
GBP/JPY Technical Levels
The immediate support is located at 187.65, under which the pair could drop to 187.10. On the other hand, a break above 188.07 (hourly 200-MA) could drive the pair higher to 188.58 levels.
GBP/JPY – trades below hourly 200-MA
The pair now trades below its hourly 200-MA currently located at 188.07. The said average acted as strong support earlier today, since the pair bounced-off the same to clock an intraday high of 188.58 levels. Moreover, the Japanese Yen had come under pressure earlier today, even though Japanese exports beat expectations in April to rise 8%.
However, since European morning the Yen has managed to make a comeback across the board. The pair is unlikely to much action in the North American session on account of a trading holiday in the US.
GBP/JPY Technical Levels
The immediate support is located at 187.65, under which the pair could drop to 187.10. On the other hand, a break above 188.07 (hourly 200-MA) could drive the pair higher to 188.58 levels.