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GBP/JPY stuck between 184 and hourly 50-MA

FXStreet (Mumbai) - The GBP/JPY made a run at 184.00 but lacked strength to sustain above the same despite hawkish comments from BOE official Forbes.

Supported by hourly 50-MA

Despite being rejected at 184.00, the downside in the pair was restricted around its hourly 50-MA 183.85 levels. As of now, the cross appears stuck between the hourly 50-Ma and 184.00 handle.

Sterling received a minor boost after BOE’s Forbes said rates need to rise sooner than later. However, the spike quickly ran into offers around 184.05. The pair now trades around 183.95 levels.

GBP/JPY Technical Levels

The immediate support is located at 183.85 (hourly 50-MA), followed by a support at 183.64 (hourly 200-MA) which, if taken out could push the cross lower to 183.00 handle. On the other hand, a break above 184.00 would open doors for a rise to 200-DMA located at 185.27.

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