GBP/JPY gyrates 185.00 handle

By FXStreet FXStreet (Mumbai) – The GBP/JPY pair is trading around 185.00 handle amid losses in the European stocks and offers around the 200-DMA at 185.36.

Gains capped at 200-DMA

The cross failed to take out its 200-DMA earlier today. Sterling is having a tough time compared to other European majors on account of the moderate losses seen in the stock markets. Moreover, the risk-off is also helping the Yen take back its gains.

The immediate focus is now on the UK public sector net borrowing figure. Later today, the sentiment on the Wall Street could influence the cross.

GBP/JPY Technical Levels

At 185.01, the immediate resistance is located at 185.36 (200-DMA), above which another resistance sits at 185.55 (50-DMA). A break above the same would open doors for a rally to 187.50. On the lower side, support is seen at 184.85 (Oct 9 low) and 184.30 (5-DMA).
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Source:: FX Street