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19 May 2015
GBP/JPY trims losses and rises back above 187.00
FXStreet (Córdoba) - The pound dropped sharply against the yen during the European session session but then managed to trims losses.
GBP/JPY rebounds at 186.00
The pair dropped from slightly below 188.00 and bottomed at 185.94, the lowest level since May 8. From there, the pair bounced to the upside, boosted by a decline of the yen in the market as USD/JPY jumped above 120.30.
The recovery of GBP/JPY from the lows found resistance at 187.20/25 and currently trades at 187.10/15, 65 pips below yesterday’s closing price, but more than a hundred above today’s lows.
GBP weak after data, minutes eyed
Inflation numbers below expectations from the UK weakened the pound on European hours. Tomorrow, Bank of England MPC minutes will be release. The document could spur volatility in pound crosses.
GBP/JPY rebounds at 186.00
The pair dropped from slightly below 188.00 and bottomed at 185.94, the lowest level since May 8. From there, the pair bounced to the upside, boosted by a decline of the yen in the market as USD/JPY jumped above 120.30.
The recovery of GBP/JPY from the lows found resistance at 187.20/25 and currently trades at 187.10/15, 65 pips below yesterday’s closing price, but more than a hundred above today’s lows.
GBP weak after data, minutes eyed
Inflation numbers below expectations from the UK weakened the pound on European hours. Tomorrow, Bank of England MPC minutes will be release. The document could spur volatility in pound crosses.