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15 Aug 2013
GBP/JPY, persists on upswing
FXstreet.com (Chicago) - GBP/JPY accumulates 0.21% gains so far despite strong retracement from 153.20 zone earlier today.
Earlier in the UK, retail sales data triggered a bullish reaction as the pair peaked above 153.20. At 1.1% (MoM), retail sales were better than expected as projections were at 0.6%. Similarly, retail sales ex-fuel matched 1.1% to outbeat the same estimates, up 0.5%.
Since the data was released, the price has cascaded to the 152.32 zone to trade at 152.26 between supports at 152.00 (July 16th highs), 151.76 (June 21st highs) ahead of 151.55 (July 8th highs) and resistances at 152.33 (July 22nd lows), 152.65 (July 31st highs) followed by 152.96 (July 28th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis, navigating above EMA20.
Earlier in the UK, retail sales data triggered a bullish reaction as the pair peaked above 153.20. At 1.1% (MoM), retail sales were better than expected as projections were at 0.6%. Similarly, retail sales ex-fuel matched 1.1% to outbeat the same estimates, up 0.5%.
Since the data was released, the price has cascaded to the 152.32 zone to trade at 152.26 between supports at 152.00 (July 16th highs), 151.76 (June 21st highs) ahead of 151.55 (July 8th highs) and resistances at 152.33 (July 22nd lows), 152.65 (July 31st highs) followed by 152.96 (July 28th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis, navigating above EMA20.