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GBP/JPY finds support at 4-hr 200-MA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The GBP/JPY found support at the 4-hr 200-MA seen at 185.66 levels after having suffered sharp losses in the previous three trading days.

    Rejected at 186.00

    The cross made a failed attempt at 186.00 earlier today, before falling back to 185.80 levels. Sterling traders now await BOE’s Carney testimony on the QIR. The governor could throw light on the inflation trajectory and the possible timing of the BOE liftoff.

    At 185.80, the cross finds itself stuck between the 200-DMA at 186.17 and the 4-hr 200-MA at 185.66 levels.

    GBP/JPY Technical Levels

    The immediate resistance is seen at 186.00 (daily high) and 186.17 (200-DMA), above which the gains could be extended to 187.50 (100-DMA). On the other side, support is seen at 184.97 (50-DMA) and 184.30 (Nov 6 low).
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