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30 Dec 2014
GBP/JPY slides, trades near 10-day lows
FXStreet (Mumbai) - The British slid against the Japanese counterpart today, snapping three consecutive days of gains as the traders closed short yen positions on increased bets of safe-haven demand for the Japanese currency.
Currently, the GBP/JPY pair trades lower at 185.90 levels, down -0.74% on the day, recovering from day’s low hit at 185.24 levels. The cross in GBP/JPY edged down as the Japanese yen gained some upward momentum against its major counterparts. Sterling was dragged down largely by yen strength, while the GBP/USD pair was trading flat and USD/JPY was 0.68% lower, pushing the cross down, at time of writing.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 187.24 (Today’s High) and above which it could extend gains to 187.51 (Dec 23 High) levels. To the downside, immediate support might be located at 185 levels and below that at 184.36 (Dec 18 Low) levels.
Currently, the GBP/JPY pair trades lower at 185.90 levels, down -0.74% on the day, recovering from day’s low hit at 185.24 levels. The cross in GBP/JPY edged down as the Japanese yen gained some upward momentum against its major counterparts. Sterling was dragged down largely by yen strength, while the GBP/USD pair was trading flat and USD/JPY was 0.68% lower, pushing the cross down, at time of writing.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 187.24 (Today’s High) and above which it could extend gains to 187.51 (Dec 23 High) levels. To the downside, immediate support might be located at 185 levels and below that at 184.36 (Dec 18 Low) levels.