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GBP/JPY revisits session lows near 182.40 on UK PMI

FXStreet (Mumbai) - The British pound ran through fresh offers versus its Japanese counterpart in the European morning, knocking-off GBP/JPY towards fresh session lows on the 182 handle.

GBP/JPY falls from 182.80

Currently, the GBP/JPY pair trades 0.21% higher at 182.44, pushing further below 183 handle. The GBP/JPY cross trimmed gains as the pound was hit by the poor services sector data from the UK.

Markit/CIPS services PMI dropped further to 53.3 in September, down from the previous month's 55.6, and far below market consensus of 56, coming in at the lowest levels since April 2013.

While, a weaker yen versus the greenback helped cushion the UK PMI-led losses and keeps the pair supported above 182 levels.

In the day ahead, the cross is likely to remain influenced by the US datasets while the focus shifts towards the BOJ policy decision due on Wednesday for fresh updates.

GBP/JPY Technical Levels

To the upside, the next resistance is located at 183.21 (Today’s High) levels and above which it could extend gains to 184 levels. To the downside immediate support might be located at 181.90 (Today’s Low) below that at 180.62 (Oct 2 Low) levels.

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