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May 31, 2013
GBP/JPY rebounds off lows to operate at 152.72/75
FXstreet.com (Barcelona) - The GBP/JPY recently bottomed out at the 152.37 level (session low), following the upbeat release of economic data in the United Kingdom Friday.
At the time of writing, the GBP/JPY has recovered some ground to settle at 152.72/75, still suffering a loss of -0.42% off its opening. Following a breaking below the 152.93 support, Mataf.net analysts point to additional means for pair at 151.71, ahead of 151.11, and ultimately 1.5310. Conversely, a break above the 1.54.75 mark will initiate short-term resistances at 155.35 and 156.57.
In the United Kingdom, Consumer Credit (April) came in at £0.524B, against expectations of £0.4B. In addition, Mortgage Approvals were reported at 53.71K in April, vs. estimates of 54.5K. Finally, Net Lending to Individuals (MoM) yielded £1.4B, relative to a projection of £0.9B.
At the time of writing, the GBP/JPY has recovered some ground to settle at 152.72/75, still suffering a loss of -0.42% off its opening. Following a breaking below the 152.93 support, Mataf.net analysts point to additional means for pair at 151.71, ahead of 151.11, and ultimately 1.5310. Conversely, a break above the 1.54.75 mark will initiate short-term resistances at 155.35 and 156.57.
In the United Kingdom, Consumer Credit (April) came in at £0.524B, against expectations of £0.4B. In addition, Mortgage Approvals were reported at 53.71K in April, vs. estimates of 54.5K. Finally, Net Lending to Individuals (MoM) yielded £1.4B, relative to a projection of £0.9B.