GBP/JPY Live News

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GBP/JPY

Sep. 17, 2021

Pound/Yen down 31 pips, closing at 151.07, for its four straight negative days

(23:15) GMT

Pound/Yen falls to 151.07, following mixed behavior today, as it ranges between 150.95 and 151.93.

On the flip side, positive data for Pound/Yen released earlier when United Kingdom Retail Sales released earlier shows an improvement to -0.9% from the preceding data of -2.8%, but falls short of the projected 0.5%.

Meanwhile, United Kingdom Core Retail Sales fall short of the 2.5% projections, with -0.9% and continued its downward trajectory from previous figure of 0.9%.

As the day reaches an end a chart visual study suggests although GBP/JPY is down today and was as low as 150.95, it seems to be recovering slightly and climbing away from the 149.49 support line and is now 157 pips above it. In terms of trend indicators, we can see that although down today, it's worth noting that in earlier trading Pound/Yen peaked above the 151.69 50 day Simple Moving Average, usually an indication that a positive move might be coming. Asset volatility analysis shows that In contrast Pound/Yen's upper Bollinger band at 152.46, indicating a further downward move might be next.

Overall, looking at the technical analysis landscape – although indicators are mixed and some are pointing in different directions it seems Pound/Yen might reverse course and start pointing upward in the short term.

Pound/Yen has started this year by gaining 7.27%. A study on Pound/Yen's past performance indicates that it is currently on a down trend that started around a month ago.

Twitter highlights for Pound/Yen:

The Chase digital retail bank opens for business in the U.K. within days, part of JPMorgan's plan to expand its consumer business overseas https://t.co/dauIa2yShW
— Bloomberg (@business) September 17, 2021

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Week to date

Pound/Yen goes down to 151.07 after starting the week at 152.19 (down 0.74%) .

A bearish end to the trading week, currently light red but with no clear-cut direction GBP/JPY trading at 151.07 after ranging this week between 152.85 and 150.31. (Start trading Pound/Yen at FXTM today).

This downslide might be related to financial indicators data published earlier as United Kingdom Consumer Price Index beats expectations of 2.9% with new data release of 3.2%. This is also a step forward from the previous data of 2%. Data for United Kingdom Average Earnings Index +Bonus released Tuesday is better than expected with 8.3, but worse than previous figure of 8.8.

On the flip side United Kingdom Retail Sales released earlier shows an improvement to -0.9% from the preceding data of -2.8%, but falls short of the projected 0.5%. Data for United Kingdom Claimant Count Change (Aug) was released Tuesday suggests a downwards trend with -58,600, while previous data was -48,900.

Meanwhile, United Kingdom Core Retail Sales fall short of the 2.5% projections, with -0.9% and continued its downward trajectory from previous figure of 0.9%.

Outlook for rest of the week: Market will keep its eye on the following upcoming macroeconomics indicators: United Kingdom BoE Interest Rate Decision (Sep) is expected Thursday. United Kingdom's new CBI Industrial Trends Orders (Sep) data will be available Tuesday. Data is expected to decline to 16 from its previous value of 18. United Kingdom BoE MPC vote unchanged (Sep) will be released Thursday.

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