GBP/JPY Live News

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GBP/JPY

Dec. 1, 2023

Pound-Yen set for weak finish today; down 0.36% to 186.39 with 43 minutes before close

(23:15) GMT

Late into the session, Pound-Yen loses 66 pips (0.36%), currently trading at 186.39.

While price action maintains a negative bias, Japan CFTC JPY speculative net positions released today at 20:30 UTC with a figure of -109,200, while the previous figure was -105,500. United Kingdom CFTC GBP speculative net positions released today at 20:30 UTC with a figure of -7,900, while the previous figure was -26,100. United Kingdom Manufacturing PMI came out at 47.2, while a consensus of analysts was expecting 46.7.

GBP/JPY made an initial break below its 21 day Simple Moving Average at 186.39, a possible indication of a forthcoming negative trend. In contrast, Pound-Yen could begin to recover as it approaches significant support, now 49 pips away from 185.9. Dipping below could be an indication that further losses are ahead.

Looking forward, Pound-Yen is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are seen in other pairs, after ending yesterday's session at 1.7685, EUR/NZD lost 160 pips and is trading around 1.7525. EUR/AUD is trading around 1.63 (down 182 pips). USD/JPY drops 0.91% to trade around 146.81.

Trading mostly sideways for a month. Pound-Yen is now trading 0.72% away from its significant high of 188.41 first tested 7 days ago.

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Week to date

Pound-Yen ends yesterday stable around 186.39 .

A good end to the trading week, GBP/JPY is up to 186.39, after closing yesterday at zero. Overall, a 0% move or 18,639 pips this week. (Trade Pound-Yen with FXTM now).

At the same time, United Kingdom Manufacturing PMI came out at 47.2, while a consensus of analysts was expecting 46.7. United Kingdom Nationwide HPI (MoM) (Nov) released today at 07:00 UTC with a figure of 0.2, while the previous figure was 0.9. United Kingdom Nationwide HPI (YoY) (Nov) came out at -2. Fresh Capital Spending (YoY) (Q3) data from Japan came out at 3.4. Japan Industrial Production came out at 1%, better than analyst estimates of 0.8% and improving upon the previous reading of 0.5%.

Also worthy of note, Japan GDP projected to decline to -0.5 while previous data was 1.2; data will be released Thursday.

Furthermore, the market is looking at Japan Household Spending (MoM) (Oct) is scheduled for Thursday. Japan GDP Price Index (YoY) (Q3) will be released Thursday.

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