GBP/JPY Live News

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Apr. 19, 2024

Losing streak continues: Pound-Yen down 24 pips to 192.02 adding to its six days of losses

Live - Updated 47 minutes ago.

Pound-Yen recovering almost all the way back to 192.27 today, after dipping down to 190.28.

While price action maintains a negative bias, Retail Sales in United Kingdom fell short of market expectations (0.3%) with a reading of 0%, continuing the decline from the previous figure of 0.1%. United Kingdom Retail Sales released today at 06:00 UTC with a figure of 0.8%, while the previous figure was -0.3%. United Kingdom Core Retail Sales data released today at 06:00 UTC showed continuing decline to -0.3% from a previous figure of 0.3%.

GBP/JPY made an initial break below its 50 day Simple Moving Average at 190.69, a possible indication of a forthcoming negative trend. Pound-Yen's upper Bollinger Band® is at 192.84 which indicates a further downward move may follow. Pound-Yen broke through the 192.13 support line and dropped 10 pips below it.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Pound-Yen to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Pound-Yen is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are seen in other pairs, USD/CHF is trading around 0.9078 (down 45 pips).

Though Pound-Yen has been dropping, other pairs have been performing better: GBP/NZD is up 0.23% to 2.1107. EUR/NZD added 0.24% to its value, now trading at 1.8069.

Furthermore, United Kingdom CFTC GBP speculative net positions is scheduled for today at 19:30 UTC. Japan CFTC JPY speculative net positions is expected today at 19:30 UTC. United Kingdom MPC Member Ramsden speech set for today at 14:15 UTC.

Trading mostly sideways for 3 months. After setting a supportive marker at 166 around 11 months ago, Pound-Yen is now trading 15.84% above this level.

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Week to date

Listless market leaves Pound-Yen trading around 192.02 .

Trading week at a glance - GBP/JPY is up to 192.02, after closing yesterday at zero. Overall, a 0% move or 19,202 pips this week. (Start trading Pound-Yen at FXTM today).

Meanwhile, United Kingdom Consumer Price Index released Wednesday with a figure of 3.2%, while the previous figure was 3.4%. Following a previous reading of 0.1%, Retail Sales in United Kingdom released today at 06:00 UTC fell short of the 0.3% figure expected by analysts with an actual reading of 0%. Released today at 06:00 UTC, United Kingdom's Retail Sales showed an uptick at 0.8%, up from the previous number of -0.3%. United Kingdom Core Retail Sales data released today at 06:00 UTC showed continuing decline to -0.3% from a previous figure of 0.3%. Beating their previous number of -0.4%, United Kingdom Core Retail Sales released 0.4% today at 06:00 UTC.

Also worthy of note, United Kingdom Composite PMI is expected Tuesday. United Kingdom Manufacturing PMI is expected Tuesday. Japan Services PMI is expected Tuesday.