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GBP/JPY hovers around hourly 200-MA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The GBP/JPY pair fell to 185.56 on a dismal UK data, but quickly recovered to trade around its hourly 200-MA located at 185.73 levels.

    Rejected at 186.00

    The cross ran into offers at 186.00 earlier today and extended losses after the UK manufacturing PMI printed lower than estimates. The previous month’s figure was revised lower as well. Still, the sterling managed to restrict losses at 185.56. The focus now shifts to the US ISM data and the sentiment in the US stocks.

    GBP/JPY Technical Levels

    The immediate resistance is seen at 186.00, above which the pair could test the hurdle at 186.21 (200-DMA). On the other hand, a break below hourly 200-MA at 185.73 would expose 184.85 (50-DMA).
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