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19 Mar 2015
GBP/JPY falls below 178.00
FXStreet (Tokyo) - The British Pound is extending its decline against the Japanese Yen and after falling more than 200 pips from 179.90 in the American session, the GBP/JPY is now trading below the 178.00 area.
The pound was sold aggressively after the Bank of England economist Haldane hinted the possibility of an interest rate cut in England. Currently, GBP/JPY is trading at 177.98, down 1.07% on the day, having posted a daily high at 180.17 and low at 177.73.
GBP/JPY spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
GBP/JPY levels
If the pair consolidates levels below the 178.00, it will find supports at 177.75 and 177.20. To the upside, resistances are at 178.60, 179.00 and 180.00.
The pound was sold aggressively after the Bank of England economist Haldane hinted the possibility of an interest rate cut in England. Currently, GBP/JPY is trading at 177.98, down 1.07% on the day, having posted a daily high at 180.17 and low at 177.73.
GBP/JPY spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
GBP/JPY levels
If the pair consolidates levels below the 178.00, it will find supports at 177.75 and 177.20. To the upside, resistances are at 178.60, 179.00 and 180.00.