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GBP/JPY rises above 200-DMA

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The GBP/JPY cross clocked a high above 200-DMA at 186.23 levels in early Europe, rising for the third consecutive session.

    Flirts with key fib level

    Sterling is mildly bid in early Europe, but is having a tough time extending gains taking out 186.29 (38.2% of 195.88-180.36) levels. Sterling traders await the Carney’s speech for any hints regarding the timing of the BOE liftoff.

    The pair rose to a high of 186.35, before falling back slightly to 186.20 levels. The pair bounced off from the support at 184.02 (195.88-180.36) last week.

    GBP/JPY Technical Levels

    The cross could test 100-DMA at 187.00 levels in case it manages to sustain above 186.29 (38.25 of 195.88-180.36). On the other hand, a repeated failure to sustain above the 200-DMA at 186.23 could see the pair test support at 185.05 (50-DMA).
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