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GBP/JPY offered again at 188.00

FXStreet (Mumbai) - The GBP/JPY was offered for the second time in last 24 hours at 188.00 levels, although the cross stays above the critical level of 187.50.

Supported by hourly 50-MA

The cross flirted with hourly 50-MA in Asia, before making a failed attempt at 188.00 handle. The currency pair was offered near 188.00 in the NY session yesterday, following which losses in the US stocks strengthened Yen and pushed the cross to 187.28 levels.

BOE’s Broadbent’s comments led to a minor spike in GBP, however, the losses in the European stocks ensured the pair lost momentum near 188.00.

GBP/JPY Technical Levels

At 187.75, the immediate resistance is seen at 188.00, above which the pair could rise to 188.70 (channel resistance on the 4-hr chart). On the other side, support is seen at 187.39 (hourly 50-MA) and 187.00 (hourly 100-MA).

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