OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/JPY rises above 5-WMA after UK data

FXStreet (Mumbai) - The GBP/JPY pair rose above its 5-week MA located at 183.54 after the data in the UK showed the industrial production rose at a faster than expected rate in August.

GBP/JPY trades at 8-day high

At 183.70, the spot is at a 8-day high. The buying interest in Sterling spiked after the UK Office for National Statistics (ONS) showed the industrial production rose 1% m/m in Aug, beating the estimated rebound to 0.3%.

Meanwhile, BOJ Kuroda’s readiness to do more if required and the uptick in the European stocks has kept the safe haven Japanese Yen on a back foot.

GBP/JPY Technical Levels

The immediate resistance is seen at 184.22 (Sep 22 low), followed by a major hurdle at 185.37 (Aug 28 low). On the other side, support is seen at 182.49 (daily low) and 181.61 (Sep 24 low).

EUR/GBP drops below 20-DMA on solid UK data

The GBP bulls tightened grip in the European session, with EUR/GBP falling below 0.7350 levels, after sterling witnessed renewed buying interest following the releases of impressive UK industrial production and manufacturing data.
Read more Previous

Singapore Foreign Reserves (MoM) rose from previous 250.4B to 251.64B in September

Singapore Foreign Reserves (MoM) rose from previous 250.4B to 251.64B in September
Read more Next
Start livechat