26 Nov 2014
GBP/JPY recovers losses ahead of UK GDP
FXStreet (Mumbai) - The Cable recovered losses against the Japanese Yen to trade near the 5-DMA level located at 185.14.
The GBP/JPY is currently trading marginally lower at 185.11 levels. The pair recovered from a low of 184.78 levels hit earlier today, as the Yen pared gains against the US dollar. However, broader gains in the GBP remain capped as the Ten-year Gilt yields declined to 1.992%, from the previous session’s close of 2.014%.
Meanwhile, the USD/JPY pair recovered from the low of 117.60, to trade at the current rate of 117.80. The GBP/USD pair is trading largely unchanged at 1.5712 levels. The markets await the UK Q3 GDP estimate, which is likely to show the growth rate unchanged at 3.0% year-on-year.
GBP/JPY Technical Levels
The pair has an immediate resistance located at 185.40, above which gains could be extended to 185.87 levels. Meanwhile, support is seen at 184.80 and 184.52 levels.
The GBP/JPY is currently trading marginally lower at 185.11 levels. The pair recovered from a low of 184.78 levels hit earlier today, as the Yen pared gains against the US dollar. However, broader gains in the GBP remain capped as the Ten-year Gilt yields declined to 1.992%, from the previous session’s close of 2.014%.
Meanwhile, the USD/JPY pair recovered from the low of 117.60, to trade at the current rate of 117.80. The GBP/USD pair is trading largely unchanged at 1.5712 levels. The markets await the UK Q3 GDP estimate, which is likely to show the growth rate unchanged at 3.0% year-on-year.
GBP/JPY Technical Levels
The pair has an immediate resistance located at 185.40, above which gains could be extended to 185.87 levels. Meanwhile, support is seen at 184.80 and 184.52 levels.