29 Jul 2013
GBP/JPY bounces off lows ahead of Kuroda speech
FXstreet.com (New York) - The GBP/JPY technical cross has bounced off an earlier low of 150.54 during Asian trading, regaining its composure ahead of the Kuroda speech later today at 3:30 GMT.
In Japan, Retail Trade (YoY) was reported at +1.6% in June, missing expectations of +1.9%. Moreover, Retail Trade s.a. (MoM) came in at -0.2% in June, relative to a figure of +1.5% previously. Finally, Large Retailers Sales (June) yielded +3.5%, compared with -0.4% previously.
GBP/JPY technical bias
The GBP/JPY is presently trading at 150.87, down a marginal -0.01% thus far during Asian trading Monday. The pair will face support at 150.72 (July 26 low), ahead of 150.57 (July 12 high), and 150.36 (July 11 high). Conversely, the cross will meet resistance at 151.21 (55-day MA), onto 151.42 (July 18 low).
In Japan, Retail Trade (YoY) was reported at +1.6% in June, missing expectations of +1.9%. Moreover, Retail Trade s.a. (MoM) came in at -0.2% in June, relative to a figure of +1.5% previously. Finally, Large Retailers Sales (June) yielded +3.5%, compared with -0.4% previously.
GBP/JPY technical bias
The GBP/JPY is presently trading at 150.87, down a marginal -0.01% thus far during Asian trading Monday. The pair will face support at 150.72 (July 26 low), ahead of 150.57 (July 12 high), and 150.36 (July 11 high). Conversely, the cross will meet resistance at 151.21 (55-day MA), onto 151.42 (July 18 low).