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GBP/JPY suffers on US dollar flows

FXStreet (Guatemala) - GBP/JPY is trading at 182.20, down -0.62% on the day, having posted a daily high at 184.34 and low at 181.87.

GBP/JPY is finding some support on the 182 handle having drifted lower post the drop from 184.20 as the Yen takes back some ground below 115 handle vs the US dollar. However, GBP/USD is in real trouble below the 1.59 handle and bulls have run to the hills through key territory in the upper end of the 1.58 handle.

This leaves the cross very exposed should the nonfarm payrolls give the greenback further room to advance and take sterling lower. The BoE left its overall policy stance unchanged again, as expected, but perhaps we might see an upside surprise in the main event that will be the Inflation Report next week and perhaps that could give the pair some support and sterling overall – although it seems doubtful considering the disinflation environment of late.

GBP/JPY noteworthy levels

Current price is 182.21, with resistance ahead at 182.69 (Hourly 20 EMA), 182.77 (Daily Classic PP) and 183.34. Next support to the downside can be found at 182.09 (Daily Classic S1), 181.87 (Weekly Classic R1), 181.75 (Hourly 100 SMA) and 181.51.

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