Back
17 Mar 2015
GBP/JPY finds support above 178.50
FXStreet (Córdoba) - A weak pound pushed GBP/JPY to the downside. The pair bottomed 178.50, the lowest since last Friday and then bounced to the upside, trimming losses. Currently is hovering around 179.00.
GBP/JPY back near March lows
Yesterday the pair rose above 180.00 and also today traded momentarily on top of 180.00 but failed to hold. The decline found support slightly above March lows that lie at 178.20.
It remias moving with a bearish bias since the beginning of the month and has fallen so far more than 500 pips in March. Yesterday posted the first daily gain in a week.
Tomorrow, besides the FOMC meeting, key events will take place in the United Kingdom. First it will be the minutes of the Bank of England and the employment report and then, the Chancellor of the Exchequer's annual budget statement.
GBP/JPY back near March lows
Yesterday the pair rose above 180.00 and also today traded momentarily on top of 180.00 but failed to hold. The decline found support slightly above March lows that lie at 178.20.
It remias moving with a bearish bias since the beginning of the month and has fallen so far more than 500 pips in March. Yesterday posted the first daily gain in a week.
Tomorrow, besides the FOMC meeting, key events will take place in the United Kingdom. First it will be the minutes of the Bank of England and the employment report and then, the Chancellor of the Exchequer's annual budget statement.