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6 Jan 2015
GBP/JPY falls below 100-DMA
FXStreet (Mumbai) - The GBP/JPY pair extended losses to trade below the 100-DMA located at 180.64 levels, after the downbeat UK services PMI data hit the wires.
The pair now trades 1.04% lower for the day at 180.56 levels, compared to the previous session’s close of 182.18 levels. Pound extended losses after the Markit/CPIS UK Services PMI data came-in at at 55.8, missing the expectation of 58.5, and down from the previous figure of 58.6. The weak data pushed the GBP/USD pair below 1.52 levels. Meanwhile, the USD/JPY fell once again below 119.00 levels after the 10-yr Treasury yield in the US fell below 2.00% for the first time since October 2014. Consequently, the GBP/JPY cross was pushed below the 100-DMA located at 180.64 levels.
GBP/JPY Technical Levels
The immediate resistance is seen at 180.64 (100-DMA), above which the pair could re-test 181.62 (Dec. 16 low). Meanwhile, support is seen at 180.00 and 179.64 levels.
The pair now trades 1.04% lower for the day at 180.56 levels, compared to the previous session’s close of 182.18 levels. Pound extended losses after the Markit/CPIS UK Services PMI data came-in at at 55.8, missing the expectation of 58.5, and down from the previous figure of 58.6. The weak data pushed the GBP/USD pair below 1.52 levels. Meanwhile, the USD/JPY fell once again below 119.00 levels after the 10-yr Treasury yield in the US fell below 2.00% for the first time since October 2014. Consequently, the GBP/JPY cross was pushed below the 100-DMA located at 180.64 levels.
GBP/JPY Technical Levels
The immediate resistance is seen at 180.64 (100-DMA), above which the pair could re-test 181.62 (Dec. 16 low). Meanwhile, support is seen at 180.00 and 179.64 levels.