GBP/JPY gains some positive traction on Friday and recovers further from the weekly low. Mostly better-than-expected UK macro data benefits the British pound and offers support. The offered tone surrounding the safe-haven JPY remains supportive of the positive move. The GBP/JPY cross builds on the overnight goodish bounce from the 161.25 area, or the weekly… Read More »
GBP/JPY fades bounce off weekly low ahead of the preliminary UK Q2 GDP. Multiple failures to cross 50-day EMA, previous support line from March favor sellers amid steady RSI, bearish MACD signals. 200-day EMA offers strong support, six-week-old horizontal line adds to upside filters. GBP/JPY holds lower grounds inside an immediate 30-pip trading range above… Read More »
GBP/JPY is expected to report more losses after a downside move below 162.00. Vulnerable expectations for the UK economic data will keep the sterling bulls on the back foot. Japan’s cabinet re-shuffle is expected to result in a dramatic change in the Japanese yen on a broader basis. The GBP/JPY pair has dropped sharply after… Read More »
Japanese yen soars across the board after economic data. July US CPI rises below expectations triggering a rally in Treasuries. GBP/JPY trims losses after falling to as low as 161.67, the lowest since August 5. The GBP/JPY cross lost almost 200 pips following the release of US inflation data that triggered a rally of the… Read More »
GBP/JPY struggles for clear directions, grinds near intraday high of late. Multiple pullbacks from the key SMAs, impending bear cross on the MACD tease sellers. Bulls should remain cautious below descending trend line from late June. GBP/JPY steadies near 163.20, after rising for the last three days, during the initial Tokyo session on Wednesday. The… Read More »
GBP/USD is juggling in a 28-pip range as investors await UK GDP data. The BOE is worried over soaring consensus for price pressures. Japan’s administration is eyeing measures to paddle up the labor cost index. The GBP/JPY pair is displaying back and forth moves in a narrow range of 163.00-163.28 from the New York session… Read More »
GBP/JPY exchanges hands around familiar levels, above 163.00. From a long-term perspective, the cross is neutrally biased, waiting for a catalyst. The GBP/JPY hourly chart is neutral-biased but tilted downwards as sellers gather momentum, as shown by the RSI. The GBP/JPY seesaws during the North American session amidst a dull trading day. Investors are bracing… Read More »
GBP/JPY remains depressed amid mixed clues, inactive markets. Yields seek fresh clues to consolidate Friday’s rally ahead of US inflation. UK politics, Brexit woes exert downside pressure amid dormant session. Hopes that Japan’s cabinet reshuffle won’t affect BOJ monetary policy test bears. GBP/JPY remains mildly offered around 163.00 heading into Tuesday’s London open. Even so,… Read More »
The GBP/JPY daily chart portrays the pair as neutral-to-downwards, pierce of 163.00, to send the pair towards the 163.10s area. From a short-term perspective, the GBP/JPY is range bound, but the higher-time frame could lean the pair neutral-to-downwards. The GBP/JPS is almost flat as Tuesday’s Asian Pacific session begins, seesawing around the 100-day EMA after… Read More »
GBP/JPY is expected to extend their gains above 163.50 on higher UK inflation expectations. The UK economic data comprising GDP, Industrial Production, and others are likely to remain downbeat. Japan’s Overall Household Spending improved to 3.5% vs. -0.5% and the expectations of 1.5%. The GBP/JPY pair has given an upside break of the consolidation formed… Read More »
