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5 Dec 2014
GBP/JPY hits a 5 year high at 188.57
FXStreet (Mumbai) - The cable rebounded and trades near 5 year high against the Japanese yen, after having hit a low of 187.27 in the early Asian trading.
At the time of writing, GBP/JPY trades at 188.45, 0.37% higher from previous session’s close of 187.74. The pound remains supported after BOE maintained a status-quo on its monetary policy decision and as market looks forward to BOE’s Inflation Attitude Survey.
The pair is likely to remain volatile ahead of the release of a US non-farm payroll report that will be closely watched by investors.
GBP/JPY Technical Levels
The pair has an immediate resistance at 188.93 (Jan 2009) levels, above which gains could be extended to 189 (2009 High) levels. On the flip side, support is seen at 188.25 (Dec 4 High), below which it could extend losses to 187.52 (Dec 4 Low) levels.
At the time of writing, GBP/JPY trades at 188.45, 0.37% higher from previous session’s close of 187.74. The pound remains supported after BOE maintained a status-quo on its monetary policy decision and as market looks forward to BOE’s Inflation Attitude Survey.
The pair is likely to remain volatile ahead of the release of a US non-farm payroll report that will be closely watched by investors.
GBP/JPY Technical Levels
The pair has an immediate resistance at 188.93 (Jan 2009) levels, above which gains could be extended to 189 (2009 High) levels. On the flip side, support is seen at 188.25 (Dec 4 High), below which it could extend losses to 187.52 (Dec 4 Low) levels.