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26 Jan 2015
GBP/JPY rebounds to fresh session highs at 177.56
FXStreet (Mumbai) - The British pound climbed higher versus the Japanese counterpart, erasing previous losses as broad based risk-appetite resurfaced dulling the safe-haven appeal in yen.
Currently, the GBP/JPY pair hit a new intraday high at 177.56 levels, up 0.53% on the day. The cross in GBP/JPY erased previous losses and jumped largely on yen weakness versus the greenback. Moreover, re-emergence of risk-on environment as traders absorbed the outcome of Greece snap elections, also fuelled the rally in the cross.
As of writing, GBP/USD trades at 1.5025 higher by 0.22% on the day, while the yen trades lower by 0.31% against the USD at 118.15 levels.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 178 and above which it could extend gains to 178.59 levels. To the downside, immediate support might be located at 177 levels and below that at 176.38 levels.
Currently, the GBP/JPY pair hit a new intraday high at 177.56 levels, up 0.53% on the day. The cross in GBP/JPY erased previous losses and jumped largely on yen weakness versus the greenback. Moreover, re-emergence of risk-on environment as traders absorbed the outcome of Greece snap elections, also fuelled the rally in the cross.
As of writing, GBP/USD trades at 1.5025 higher by 0.22% on the day, while the yen trades lower by 0.31% against the USD at 118.15 levels.
GBP/JPY Technical Levels
To the upside, the next resistance is located at 178 and above which it could extend gains to 178.59 levels. To the downside, immediate support might be located at 177 levels and below that at 176.38 levels.