GBP/JPY capped at 50 SMA

By FXStreet FXStreet (Guatemala) – GBP/JPY is currently trading at 186.66 with a high of 187.39 and a low of 185.94.

GBP/JPY is consolidated having met supply at the 187 handle after a strong recovery from the 186.00 level. The pound has been supported of late with the recent jobs data beating expectations that accompanied Carney’s upbeat rhetoric that is leaving the door open to possible rate hikes from the BoE in the foreseeable future.

The Yen, on the other hand, has been reacting to the risk appetite in the market and benefitted on the dovish FOMC yesterday although now gives back partial gains as we head into the close for the week.

GBP/JPY levels

Technically, MACD is turning positive through the 20 SMA and finding supply at the 50 SMA at 186.98. The downside comes with key supports at 186.00, 185.80 and 185.40 that guard 184.70. to the upside, 187.20 comes as near term target.
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Source:: FX Street