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GBP/JPY pulling back from 2009 highs

FXStreet (Guatemala) - GBP/JPY is trading at 176.49, up 0.06% on the day, having posted a daily high at 176.73 and low at 176.17.

GBP/JPY has pulled back from the highs along an overall bid theme that has been based upon contributing factors including that China elevated concerns with it's injection of liquidity into the top 5 domestic banks earlier this week and had been creating a risk on environment. Today the cross accelerated on the better than expected UK employment figures that were released dropping to -37.2k in Aug vs -30k expected with a lower clamant count at 2.9% and USD/JPY supported the pair on the FOMC’s dot plot results painting a bullish picture for the US economy that took the greenback higher.

GBP/JPY levels

With spot trading at 176.37, we can see next resistance ahead at 176, 177.18 (Daily Classic R1), 177.98 (Daily Classic R2), 178.22 (Weekly Classic R2) and 179.50 (Daily Classic R3). Support below can be found at 176.17 (Daily Low) and 175.67 (Daily Classic PP).

Japan Adjusted Merchandise Trade Balance: ¥-924.161B (August) vs ¥-1023.841B

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