GBP/JPY Live News

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Jan. 31, 2023

Weak sentiment sees Pound-Yen posting 0.7% loss

Live - Updated 47 minutes ago.

Pound-Yen is grinding lower from 161.03 to 159.91, shedding 112 pips (0.7%) today.

Meanwhile, data for Japan Industrial Production released yesterday at 23:50 UTC is better than expected with -0.1%, but worse than previous figure of 0.2%. Data for Japan Retail Sales published yesterday at 23:50 UTC came out at 3.8%, beating projections of 3% and showing improvement over the preceding figure of 2.5%. Japan Jobs/applications ratio (Dec) released yesterday at 23:30 UTC with a figure of 1.35, while the previous figure was 1.35.

GBP/JPY made an initial break below its 50 day Simple Moving Average at 160.96, a possible indication of a forthcoming negative trend.

In the short term, Pound-Yen is expected to maintain its recent downtrend and continue spiralling lower.

In the meantime, negative performances are seen in other pairs, after ending yesterday's session at 1.2354, GBP/USD lost 56 pips and is trading around 1.2297. After ending yesterday's session at 141.47, EUR/JPY lost 44 pips and is trading around 141.02.

Positive performances can be seen by looking at other currencies as EUR/GBP added 0.4% to its value, now trading at 0.8818.

Furthermore, United Kingdom Manufacturing PMI figure is projected at 46.7. It previously stood at 46.7; data will be released tomorrow at 09:30 UTC. United Kingdom Nationwide HPI (MoM) (Jan) is expected tomorrow at 07:00 UTC. United Kingdom Nationwide HPI (YoY) (Jan) is scheduled for tomorrow at 07:00 UTC.

As things stand, Pound-Yen is 11.36% away from a significant low of 144.6 first set 3 months ago.

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Week to date

Pound-Yen shifts up to 159.91, after ending the last session at zero (down 0%) .

Trading week at a glance - GBP/JPY is up to 159.91, after closing yesterday at zero. Overall, a 0% move or 15,990 pips this week. (Trade Pound-Yen with FXTM now).

Meanwhile, data for Japan Industrial Production released yesterday at 23:50 UTC is better than expected with -0.1%, but worse than previous figure of 0.2%. Data for Japan Retail Sales published yesterday at 23:50 UTC came out at 3.8%, beating projections of 3% and showing improvement over the preceding figure of 2.5%. Japan Jobs/applications ratio (Dec) came out at 1.35, while a consensus of analysts was expecting 1.36. Japan CFTC JPY speculative net positions released Friday with a figure of -21,600, while the previous figure was -23,000. United Kingdom CFTC GBP speculative net positions released Friday with a figure of -23,900, while the previous figure was -24,700.

Also worthy of note, United Kingdom Construction PMI is projected to outperform its last figure with 49.6, having previously been at 48.8. The figure will be published Monday.

Furthermore, the market is looking at United Kingdom BoE Interest Rate Decision (Jan) scheduled to come out Thursday. United Kingdom Services PMI is expected Friday.