17 Feb 2015
GBP/JPY trades above 182.00
FXStreet (Mumbai) - The British Pound advanced, taking the GBP/JPY pair above 182.00 levels ahead of the UK January CPI data.
Gains capped at 100-DMA
The pair is struggling to extend gains above the 100-DMA located at 182.28 levels. The pair recovered from the low of 181.56 seen earlier today as the sentiment sensitive Japanese Yen erased gains tracking the resilience in the EUR despite the failure of Eurogroup talks yesterday. Attention now shifts to the UK January CPI data, which is likely to show price pressures fell 0.8% on the month. On the year, the CPI is seen at 0.4%.
The British Pound weakened yesterday in anticipation of the weak inflation print. Hence, we may not see much reaction ahead of the data today.
GBP/JPY Technical Levels
The rise above 100-DMA located at 182.28 could push the pair higher to 183.33 levels. On the flip side, a rejection at 182.28 could push the pair down to the 50-DMA located at 181.16 levels.
Gains capped at 100-DMA
The pair is struggling to extend gains above the 100-DMA located at 182.28 levels. The pair recovered from the low of 181.56 seen earlier today as the sentiment sensitive Japanese Yen erased gains tracking the resilience in the EUR despite the failure of Eurogroup talks yesterday. Attention now shifts to the UK January CPI data, which is likely to show price pressures fell 0.8% on the month. On the year, the CPI is seen at 0.4%.
The British Pound weakened yesterday in anticipation of the weak inflation print. Hence, we may not see much reaction ahead of the data today.
GBP/JPY Technical Levels
The rise above 100-DMA located at 182.28 could push the pair higher to 183.33 levels. On the flip side, a rejection at 182.28 could push the pair down to the 50-DMA located at 181.16 levels.