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6 Feb 2015
GBP/JPY tests 100-DMA
FXStreet (Mumbai) - The GBP/JPY breached the technical resistance at 180.00 to test the 100-DMA located at 181.34 levels after a strong payrolls data in the US led to a sharp weakness in the Japanese Yen.
Yen slides, Pound relatively resilient
The Japanese Yen fell sharply against the US dollar as the strong jobs report in the US pushed the treasury yields higher. The USD/JPY pair rose to 118.91 levels from the 117.15 levels before the jobs report. On the other hand, the British Pound stayed relatively resilient. The GBP/USD pair declined to 1.5240, from 1.5320 before the report. Consequently, the GBP/JPY cross was pushed higher to the 100-DMA at 181.34.
GBP/JPY Technical Levels
At the moment the pair is trading 0.56% higher at 181.11 levels. The immediate resistance is seen at 181.34 (100-DMA) and 181.80 (50-DMA). Meanwhile, support is seen at 180.52 and 179.80 levels.
Yen slides, Pound relatively resilient
The Japanese Yen fell sharply against the US dollar as the strong jobs report in the US pushed the treasury yields higher. The USD/JPY pair rose to 118.91 levels from the 117.15 levels before the jobs report. On the other hand, the British Pound stayed relatively resilient. The GBP/USD pair declined to 1.5240, from 1.5320 before the report. Consequently, the GBP/JPY cross was pushed higher to the 100-DMA at 181.34.
GBP/JPY Technical Levels
At the moment the pair is trading 0.56% higher at 181.11 levels. The immediate resistance is seen at 181.34 (100-DMA) and 181.80 (50-DMA). Meanwhile, support is seen at 180.52 and 179.80 levels.