25 Jun 2013
GBP/JPY testing downside
FXstreet.com (London) - GBP/JPY is continuing its second wave lower after printing a high of 151.50.
GBP/JPY is currently targeting the low of the first leg of the downside 150.12 to challenge the figure 150.00. The pair are suffering against the backdrop of a weaker dollar and Feds comments challenging markets not to position themselves so hastily on the back of a more hawkish FOMC.
GBP/JPY caught between the lines
The Yen has appreciated again while US yields have retracted. While there isn’t any data for Japan to follow, data for the pair today will come in the form of a raft of US numbers later in the afternoon, sure to affect the USD/JPY and Cable. These come in the form of Durable Goods, Housing Price Index, Consumer Confidence and New Home Sales. And Treasury sec Lew is speaking late in the evening. UK data is BBA Mortgage Approvals that comes at 830GMT. Technically, GBP/JPY is looking relatively sideways in consolidative mode, perhaps before continuing the uptrend.
GBP/JPY is currently targeting the low of the first leg of the downside 150.12 to challenge the figure 150.00. The pair are suffering against the backdrop of a weaker dollar and Feds comments challenging markets not to position themselves so hastily on the back of a more hawkish FOMC.
GBP/JPY caught between the lines
The Yen has appreciated again while US yields have retracted. While there isn’t any data for Japan to follow, data for the pair today will come in the form of a raft of US numbers later in the afternoon, sure to affect the USD/JPY and Cable. These come in the form of Durable Goods, Housing Price Index, Consumer Confidence and New Home Sales. And Treasury sec Lew is speaking late in the evening. UK data is BBA Mortgage Approvals that comes at 830GMT. Technically, GBP/JPY is looking relatively sideways in consolidative mode, perhaps before continuing the uptrend.