Back
13 Mar 2015
GBP/JPY hits fresh 1-month lows below 180.00
FXStreet (Córdoba) - After trading during hours steady around 180.50, the GBP/JPY pair broke to the downside and dropped to 179.76, reaching the lowest level since January 6. Currently is trading slightly above 180.00, falling for the fourth day in a row.
The pound remains weak in the market. Yesterday it was the worst performer and today remains under pressure. Bank of England Governor, Mark Carney, on Thursday said that a stronger pound (probably in reference to EUR/GBP) could slower the pace of rate hikes in the coming years while recent economic data from the United Kingdom showed that construction output fell 2.6% in January (analysts expected an increase of 1.3%).
GBP/JPY technical levels
To the upside, resistance might lie at 180.75 (daily high), 181.20 and 181.80 (March 12 high). On the opposite direction support could be located at 179.75/80 (daily low), 179.55 (Feb 6 low) and 179.30 (Feb 4 high).
The pound remains weak in the market. Yesterday it was the worst performer and today remains under pressure. Bank of England Governor, Mark Carney, on Thursday said that a stronger pound (probably in reference to EUR/GBP) could slower the pace of rate hikes in the coming years while recent economic data from the United Kingdom showed that construction output fell 2.6% in January (analysts expected an increase of 1.3%).
GBP/JPY technical levels
To the upside, resistance might lie at 180.75 (daily high), 181.20 and 181.80 (March 12 high). On the opposite direction support could be located at 179.75/80 (daily low), 179.55 (Feb 6 low) and 179.30 (Feb 4 high).