GBP/JPY Live News

This page provides live coverage and news analysis on the GBP/JPY currency pair

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GBP/JPY

Jan. 24, 2022

Pound/Yen hovers around 153.78

Live - Updated 61 minutes ago.

After dipping down to 153.69, Pound/Yen regains earlier losses and reaches 153.78.

Uptick comes while some more positive signs for Pound/Yen are out as United Kingdom Composite PMI fall short of the 55 projections, with 53.4 and continued its downward trajectory from previous figure of 53.6. United Kingdom Manufacturing PMI published today at 9:30 AM came out at 56.9, falling short of the 57.7 projections and continuing its decline from the previous 57.9 figure. United Kingdom Services PMI published today at 9:30 AM came out at 53.3, falling short of the 53.9 projections and continuing its decline from the previous 53.6 figure.

In terms of trend indicators, we can see that although up today, it's worth noting that earlier GBP/JPY dropped below the 50 day Simple Moving Average as it was trading at 153.58, usually an indication that a negative trend is ahead. The CCI indicator is below -100. When the CCI (Commodity Channel Index) is at this level it means the price is below the average price as measured by the indicator, indicating a possible start of a new downtrend. As the day reaches an end a chart visual study suggests the nearest resistance level is at 157.33. Despite this, Pound/Yen's lower Bollinger band is at 153.72, indicating further gains might be next.

Overall, looking at the technical analysis landscape, it seems a positive reverse of course (in the short term) might be next for Pound/Yen.

While Pound/Yen is green so far today, the following assets are not doing so well- EUR/AUD broke through the 1.5851 resistance.

In the meantime, after four days of drops, USD/SGD is flat and hovering around 1.3463. The 0.7106 support line failed to hold and Aussie/Dollar dropped 35 pips below it.

The market is looking forward to the release of new data: United Kingdom CBI Industrial Trends Orders (Jan) is expected to come out at 22 when it's released tomorrow at 11:00 AM, this is a decline from the preceding data which was 24.

Pound/Yen has lost 1% this year.

Some social media takeaways for Pound/Yen:

UK to drop COVID test demand for vaccinated travellers from Feb. 11 https://t.co/Djnf8DwXLs pic.twitter.com/HsnQVjsd62
— Reuters (@Reuters) January 24, 2022

trade on the GBP/JPY

Week to date

Pound/Yen slides down to 153.78 (a 0.32% gain) after closing the previous session at 154.28 .

A bearish end to the trading week, after ending the previous week at 154.28, GBP/JPY went up to 154.48 only to drop back to midpoint range and now trades at 153.78. (Start trading Pound/Yen at FXTM today).

United Kingdom Consumer Price Index comes out at 5.4%, above the estimate of 5.2%. This is also a step forward from the previous data of 5.1%.

On the flip side, United Kingdom Composite PMI published today at 9:30 AM came out at 53.4, falling short of the 55 projections and continuing its decline from the previous 53.6 figure. United Kingdom Manufacturing PMI published today at 9:30 AM came out at 56.9, falling short of the 57.7 projections and continuing its decline from the previous 57.9 figure. United Kingdom Services PMI fall short of the 53.9 projections, with 53.3 and continued its downward trajectory from previous figure of 53.6. United Kingdom Retail Sales fall short of the -0.6% projections, with -3.7% and continued its downward trajectory from previous figure of 1%.

Outlook for rest of the week: The market will keep its eye on the following upcoming macroeconomics indicators: Japan's new Tokyo Core CPI (YoY) (Jan) data will be available Thursday. Data is expected to decline to 0.3 from its previous value of 0.5. Japan Industrial Production projected to decline to 4.8% while previous data was 7%; data will be released Sunday. United Kingdom CBI Industrial Trends Orders (Jan) is expected to come out at 22 when it's released tomorrow at 11:00 AM, this is a decline from the preceding data which was 24.

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