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4 Mar 2015
GBP/JPY inches towards 184, UK PMI eyed
FXStreet (Mumbai) - GBP/JPY remained weak during the European session, extending its choppy trend from the previous session mainly driven by sterling weakness as traders gear up for UK’s services PMI reading due out shortly.
GBP/JPY trades around 20-DMA
Currently, the GBP/JPY cross traded flat at 183.85 levels, moving away from fresh three day lows scored at 183.60 levels. The cross in GBP/JPY continues to trade muted mainly driven by losses in the pound versus the US dollar as traders remain cautious ahead of UK services PMI release. On the other hand, the Japanese yen trades flat against the greenback eyeing fresh incentives from the US macro data.
As of writing, USD/JPY trades flat at 119.72 levels, while GBP/USD trades slightly lower by -0.07% at 1.5350.
GBP/JPY Levels to consider
To the upside, the next resistance is located at 184 and above which it could extend gains to at 184.28 (5-DMA) levels. To the downside immediate support might be located at 183.52 (20-DMA) levels below that at 183.06 (100-DMA) levels.
GBP/JPY trades around 20-DMA
Currently, the GBP/JPY cross traded flat at 183.85 levels, moving away from fresh three day lows scored at 183.60 levels. The cross in GBP/JPY continues to trade muted mainly driven by losses in the pound versus the US dollar as traders remain cautious ahead of UK services PMI release. On the other hand, the Japanese yen trades flat against the greenback eyeing fresh incentives from the US macro data.
As of writing, USD/JPY trades flat at 119.72 levels, while GBP/USD trades slightly lower by -0.07% at 1.5350.
GBP/JPY Levels to consider
To the upside, the next resistance is located at 184 and above which it could extend gains to at 184.28 (5-DMA) levels. To the downside immediate support might be located at 183.52 (20-DMA) levels below that at 183.06 (100-DMA) levels.