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Forex: GBP/JPY trading at 149.40/44 after retail sales data

FXstreet.com (Barcelona) - The GBP/JPY has moved sideways during European trading Thursday, testing the threshold of negative territory in recent moments. Following the publication of economic data in the United Kingdom, the cross has settled at 149.40/44, incurring a marginal loss of -0.04% on the day.

According the Mataf.net technical analyst team, the GBP/JPY will face resistive corrective measures levels 150.77, then 152.49, and finally 153.82. On the path lower, supports lie below at 147.72, 146.39, and finally 144.67.

In the United Kingdom, Retail Sales (YoY) have shrank -0.5% in March, against expectations of -0.6%. Finally, Retail Sales ex-Fuel (YoY) have revealed +0.4% in March, vs. projections of +0.9%.

“The GBP/JPY is moving sideways, as the pair failed at the 151.10 level yesterday before attempting to resume the bearish wave that started from 153.85 high. We need a break and stability below 147.90 level to confirm a new bearish trend.” notes the ICN.com analyst team.

United Kingdom Retail Sales (YoY) down -0.5% in Mar; -0.7% (MoM)

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