Back
18 Jun 2013
GBP/JPY retesting the 149.00 level
FXstreet.com (New York) - The GBP/JPY foreign exchange rate eased mightily off of earlier highs during European trading (149.62), following what was otherwise an upbeat data release out of the UK.
GBP/JPY falls on upbeat UK data
In the United Kingdom, Core Consumer Price Index (YoY) came in at +2.2% in May, beating estimates of +2.1%. In addition, the Consumer Price Index (YoY) climbed +3.1% in May, exceeding expectations of +2.6%. Finally, the Consumer Price Index (MoM) netted a rise of +0.2% in May, compared with projections calling for only +0.1%.
At the time of writing, the GBP/JPY technical pair is still entrenched in positive territory at 149.03 or a +0.37% thus far. Given the recent levels of strength, Mataf.net analysts calculate resistive measures for the pair at 149.51, onto 150.04 and 150.62. On the decline, a break below the 148.40 handle will initiate supports at 147.82 and 147.29.
GBP/JPY falls on upbeat UK data
In the United Kingdom, Core Consumer Price Index (YoY) came in at +2.2% in May, beating estimates of +2.1%. In addition, the Consumer Price Index (YoY) climbed +3.1% in May, exceeding expectations of +2.6%. Finally, the Consumer Price Index (MoM) netted a rise of +0.2% in May, compared with projections calling for only +0.1%.
At the time of writing, the GBP/JPY technical pair is still entrenched in positive territory at 149.03 or a +0.37% thus far. Given the recent levels of strength, Mataf.net analysts calculate resistive measures for the pair at 149.51, onto 150.04 and 150.62. On the decline, a break below the 148.40 handle will initiate supports at 147.82 and 147.29.