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GBP/JPY hits fresh daily highs


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FXStreet (Mumbai) – The British pound advanced against the Japanese counterpart today, extending previous session’s gains as the Japanese yen continues its downward momentum against the US dollar.

Currently, the GBP/JPY pair hits fresh daily high at 187.31 levels, having posted day’s low at 186.68 levels. The cross in GBP/JPY remains well supported largely on yen weakness as the Japanese yen drops against the US dollar to trade close to day’s low levels of 120.43, down -0.52% on the day. While the cable trades slightly lower at 1.5552 levels, down -0.16% on the day.


GBP/JPY Technical Levels


To the upside, the next resistance is located at 187.37 (Dec 30 High) and above which it could extend gains to 187.51 (Dec 23 High) levels. To the downside, immediate support might be located at 185.99 (Dec 19 Low) levels and below that at 185 levels.