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6 Aug 2013
GBP/JPY dropping below the 151.00 handle
FXstreet.com (London) - GBP/JPY has dropped over 60 pips since the London open and has fallen through the 151.00 handle.
GBP/JPY had been performing over 100 pips higher since the overnight lows towards 150.00, managing a high of 151.47. The pair was been capped there for the time being, despite a good set of UK data in the form of Industrial Production 1.1% mom, 1.2% yoy and Manufacturing Production 1.9% mom and 2.0% yoy. Those exceeded expectations and has supported the outlook for the UK economy yet again. However, the cross is following suit of the USD/JPY currently dropping from 98.60 to test the handle to the downside, currently trading at 98.03 and remains pressured on the offer.
GBP/JPY remains in positive territory
GBP/JPY should remain with a positive bias while it holds above 150.40 supporting zone, targeting previous highs in July, 154.00. To the downside, supports could be giving way through to 148.00 territory again as major and key before 146.00 psychological areas could come back into play, March highs. For the meanwhile, Mas are in the green although the pair currently is offered below the pivot 150.93.
GBP/JPY had been performing over 100 pips higher since the overnight lows towards 150.00, managing a high of 151.47. The pair was been capped there for the time being, despite a good set of UK data in the form of Industrial Production 1.1% mom, 1.2% yoy and Manufacturing Production 1.9% mom and 2.0% yoy. Those exceeded expectations and has supported the outlook for the UK economy yet again. However, the cross is following suit of the USD/JPY currently dropping from 98.60 to test the handle to the downside, currently trading at 98.03 and remains pressured on the offer.
GBP/JPY remains in positive territory
GBP/JPY should remain with a positive bias while it holds above 150.40 supporting zone, targeting previous highs in July, 154.00. To the downside, supports could be giving way through to 148.00 territory again as major and key before 146.00 psychological areas could come back into play, March highs. For the meanwhile, Mas are in the green although the pair currently is offered below the pivot 150.93.