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12 Mar 2015
GBP/JPY drops to 50-DMA
FXStreet (Mumbai) - The GBP/JPY fell back to its 50-DMA located at 180.87 levels, after having failed to sustain gains above the multiple resistance at 180.50-181.60.
GBP/JPY: sustains above key Fibo level
The pair has so far managed to sustain above the 38.2% Fib retracement (189.67-175.49) located at 180.92 levels. The British Pound failed to sustain gains due to a sharp drop seen in the UK Gilt yields. The 10-year Gilt yields weakened 8.6 basis points to 1.729%. Meanwhile, gains in the Japanese Yen have been capped to some extent by the strength in the US and European equities.
GBP/JPY Technical Levels
The immediate support is seen at 180.92-180.87, under which losses could be extended to 180.24 levels. On the flip side, resistance is seen at 181.48 (March. 6 low) and 182.00 (5-DMA) levels.
GBP/JPY: sustains above key Fibo level
The pair has so far managed to sustain above the 38.2% Fib retracement (189.67-175.49) located at 180.92 levels. The British Pound failed to sustain gains due to a sharp drop seen in the UK Gilt yields. The 10-year Gilt yields weakened 8.6 basis points to 1.729%. Meanwhile, gains in the Japanese Yen have been capped to some extent by the strength in the US and European equities.
GBP/JPY Technical Levels
The immediate support is seen at 180.92-180.87, under which losses could be extended to 180.24 levels. On the flip side, resistance is seen at 181.48 (March. 6 low) and 182.00 (5-DMA) levels.