10 Jun 2015
GBP/JPY back above 190.50
FXStreet (Mumbai) - The GBP/JPY has recovered from the low of 188.95 to trade at 190.60 in the early US session mainly on account of the GBP/USD pair, which gained more than 100-pips.
Will it sustain above hourly 200-MA?
The pair is struggling to sustain gains above its hourly 200-MA currently located at 190.47. Repeated attempts have failed to ensure an hourly closing above the said level in the past couple of hours. A fresh attempt is being made at the moment, although it is being repeatedly offered in the range of 190.60-190.70.
Despite the recovery, the pair still trades 0.39% lower on the day at 190.60. Moreover, the sharp gains in the GBP/USD pair is being countered by the drop in the USD/JPY pair.
GBP/JPY Technical Levels
The immediate resistance is seen at 190.74 (hourly 50-MA), above which the pair could rise to 191.59. On the flip side, a break below 189.98 could see the pair fall back to 188.95 levels.
Will it sustain above hourly 200-MA?
The pair is struggling to sustain gains above its hourly 200-MA currently located at 190.47. Repeated attempts have failed to ensure an hourly closing above the said level in the past couple of hours. A fresh attempt is being made at the moment, although it is being repeatedly offered in the range of 190.60-190.70.
Despite the recovery, the pair still trades 0.39% lower on the day at 190.60. Moreover, the sharp gains in the GBP/USD pair is being countered by the drop in the USD/JPY pair.
GBP/JPY Technical Levels
The immediate resistance is seen at 190.74 (hourly 50-MA), above which the pair could rise to 191.59. On the flip side, a break below 189.98 could see the pair fall back to 188.95 levels.