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10 Feb 2015
GBP/JPY rises to 181.00 levels
FXStreet (Mumbai) - The GBP/JPY pair rose to 181.00 levels ahead of the UK data which is expected to show industrial production growth slowed down in December.
Trades above 5-DMA
The pair recovered early losses to trade above the 5-DMA located at 180.79 as the Japanese Yen weakened against the US dollar, tracking the rise in the 10-year Treasury yield. The USD/JPY pair recovered losses to trade at 118.76 levels. Meanwhile, the GBP/USD pair is up 0.19% at 1.5245 levels.
The gains could be capped around 181.00 levels as the UK data may show the industrial production growth slowed down to 0.5% yoy in December. Manufacturing production growth is also seen slowing down to 2.0%.
GBP/JPY Technical Levels
The pair currently trades 0.27% higher at 181.03. The immediate support is seen at 180.79 (5-DMA) and 180.14 levels. Meanwhile, resistance is seen at 181.47 (50-DMA) and 182.31 levels.
Trades above 5-DMA
The pair recovered early losses to trade above the 5-DMA located at 180.79 as the Japanese Yen weakened against the US dollar, tracking the rise in the 10-year Treasury yield. The USD/JPY pair recovered losses to trade at 118.76 levels. Meanwhile, the GBP/USD pair is up 0.19% at 1.5245 levels.
The gains could be capped around 181.00 levels as the UK data may show the industrial production growth slowed down to 0.5% yoy in December. Manufacturing production growth is also seen slowing down to 2.0%.
GBP/JPY Technical Levels
The pair currently trades 0.27% higher at 181.03. The immediate support is seen at 180.79 (5-DMA) and 180.14 levels. Meanwhile, resistance is seen at 181.47 (50-DMA) and 182.31 levels.