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4 Feb 2015
GBP/JPY looses 178.00 handle
FXStreet (Mumbai) - The GBP/JPY pair fell below 178.00 levels ahead of the data in the UK, which is likely to show services activity expanded at a faster rate in January.
Weakness in Crude weighs over Pound
Fresh signs of weakness in the crude prices pushed most of the major currencies including the British Pound lower against the US Dollar. The GBP/USD pair now trades 0.10% lower at 1.5152; down from the high of 1.5175 seen earlier today.
Meanwhile, the decline in Crude has also dragged down the US 10-year Treasury yield, which has weakened to 1.786% from the high of 1.8215 seen earlier today. The fall in Treasury yields pushed the USD/JPY pair lower to 117.40 levels. Consequently, the GBP/JPY cross fell 0.24% to 117.90 levels.
GBP/JPY Technical Levels
The immediate support is seen at 117.638 (10-DMA), under which losses could be extended to 177.40 (200-DMA) levels. Meanwhile, resistance is seen at 178.30 and 178.80 levels.
Weakness in Crude weighs over Pound
Fresh signs of weakness in the crude prices pushed most of the major currencies including the British Pound lower against the US Dollar. The GBP/USD pair now trades 0.10% lower at 1.5152; down from the high of 1.5175 seen earlier today.
Meanwhile, the decline in Crude has also dragged down the US 10-year Treasury yield, which has weakened to 1.786% from the high of 1.8215 seen earlier today. The fall in Treasury yields pushed the USD/JPY pair lower to 117.40 levels. Consequently, the GBP/JPY cross fell 0.24% to 117.90 levels.
GBP/JPY Technical Levels
The immediate support is seen at 117.638 (10-DMA), under which losses could be extended to 177.40 (200-DMA) levels. Meanwhile, resistance is seen at 178.30 and 178.80 levels.