GBP/JPY Live News

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GBP/JPY

Sep. 29, 2022

Kicking off the session at 156.87, Pound-Yen currency pair peaks at 159

Live - Updated 38 minutes ago.

Pound-Yen goes up to 158.41 after dipping down to 155.61 earlier.

GBP/JPY made an initial breakout above its 5 day Simple Moving Average at 156.41, a potential indicator of a newly emerging bullish phase. Pound-Yen broke through the 156.86 resistance, climbing 154 pips above it.

Overall, looking at the technical analysis landscape, it seems Pound-Yen might continue pointing upwards in the short term.

A look at other currencies also shows bullish price action as GBP/NZD skyrockets 1.77% to trade around 1.9322. Having closed the previous session at 1.4821, GBP/CAD is up 1.55% today to currently trade at around 1.5051. EUR/NZD is up 1.04%.

Positive indicators for Pound-Yen are expected going forward as tomorrow at 06:00 UTC data for United Kingdom GDP will be released, with an expected decline to -0.1 from the preceding figure of 0.8. Tomorrow at 06:00 UTC data for United Kingdom GDP will be released, with an expected decline to 2.9% from the preceding figure of 8.7%.

Furthermore, the market is looking at today at 23:50 UTC data for Japan Industrial Production will be released, with an expected decline to 0.2% from the preceding figure of 0.8%.

Having set a peak of 168.29 around 3 months ago, Pound-Yen is now trading 6.78% below this level.

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Week to date

After ending yesterday at 158.41, Pound-Yen increases slightly to 158.41 (up 15,841 pips) .

Trading week at a glance - GBP/JPY is up to 158.41, after closing yesterday at zero. Overall, a 0% move or 15,841 pips this week. (Trade Pound-Yen with FXTM now).

Meanwhile, United Kingdom Manufacturing PMI released Friday with a figure of 48.5, while the previous figure was 47.3. United Kingdom Services PMI came out at 49.2, while a consensus of analysts was expecting 50. United Kingdom Composite PMI released Friday with a figure of 48.4, while the previous figure was 49.6. Fresh CFTC JPY speculative net positions data from Japan came out at -81,300. United Kingdom CFTC GBP speculative net positions released Friday with a figure of -54,800, while the previous figure was -68,100.

Outlook for rest of the week: Positive indicators for Pound-Yen are expected going forward as projections for United Kingdom GDP are set for a continuation of decline with -0.1 while previous data was 0.8; data will be released tomorrow at 06:00 UTC. United Kingdom GDP projected to come out at 2.9% — worse than previous data of 8.7%; data will be released tomorrow at 06:00 UTC.

Furthermore, the market is looking at United Kingdom Composite PMI figure is projected at 50.9. It previously stood at 48.4; data will be released Wednesday.

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