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10 Dec 2014
GBP/JPY faces strong resistance at 200-day SMA
FXStreet (Mumbai) - The pound trades lower against the Japanese counterpart after the yen continues to trade near 3-week high against the US dollar.
At time of writing, the GBP/JPY pair trades at 186.93 levels, down -0.35%, compared to previous day’s close of 187.57. The pound also remains pressured after weak UK manufacturing data released yesterday.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 187.29 (10-day SMA) and above which it could extend gains to 188 levels. To the downside, immediate support might be located at 186.17 (Dec 3 Low) and below that at 185.15 (Dec 9 Low) levels.
At time of writing, the GBP/JPY pair trades at 186.93 levels, down -0.35%, compared to previous day’s close of 187.57. The pound also remains pressured after weak UK manufacturing data released yesterday.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 187.29 (10-day SMA) and above which it could extend gains to 188 levels. To the downside, immediate support might be located at 186.17 (Dec 3 Low) and below that at 185.15 (Dec 9 Low) levels.