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9 Feb 2015
GBP/JPY dips below 181.00
FXStreet (Mumbai) - The Japanese Yen strengthened on a weak China data, taking the GBP/JPY pair below 181.00 levels.
Rejected at 50-DMA and 100-DMA
The pair faced rejection at the 50-DMA and the 100-DMA located at 181.58 and 181.56 earlier today, post which it declined to trade below 181.00 levels. Moreover, a weak China trade data showed a further slowdown in the world’s second largest economy, which supported gains in the Japanese Yen.
Meanwhile, the weak Chinese data also pushed the GBP/USD pair to 1.5240 levels from the session high of 1.5268. Consequently, the GBP/JPY pair suffered losses to trade lower at 80.85 levels; down 0.40% for the day.
GBP/JPY Technical Levels
The immediate resistance is located at 181.00 levels, above which the pair could re-test the 50-DMA located at 181.58 levels. On the flip side, a break below 180.52 (Jan. 12 high), shall open doors for a re-test of 180.27 (5-DMA) levels.
Rejected at 50-DMA and 100-DMA
The pair faced rejection at the 50-DMA and the 100-DMA located at 181.58 and 181.56 earlier today, post which it declined to trade below 181.00 levels. Moreover, a weak China trade data showed a further slowdown in the world’s second largest economy, which supported gains in the Japanese Yen.
Meanwhile, the weak Chinese data also pushed the GBP/USD pair to 1.5240 levels from the session high of 1.5268. Consequently, the GBP/JPY pair suffered losses to trade lower at 80.85 levels; down 0.40% for the day.
GBP/JPY Technical Levels
The immediate resistance is located at 181.00 levels, above which the pair could re-test the 50-DMA located at 181.58 levels. On the flip side, a break below 180.52 (Jan. 12 high), shall open doors for a re-test of 180.27 (5-DMA) levels.