OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: GBP/JPY at fresh highs at 152.70/78 following PMI in UK

FXstreet.com (Barcelona) - The GBP/JPY has been one of Friday’s most steadfast performers thus far, establishing session highs on the heels of a recent data release in the United Kingdom. In these moments, the pair is negotiating an exchange of 152.70/78 during European trading.

According to the Technical Analyst Team at ICN.com, “The GBP/JPY recently breached the 152.00-152.20 resistance, as it could be heading towards the top of the sideways range near 153.85 again. Accordingly, we expect the bullish move to extend today.”

In the United Kingdom, Markit Services PMI (April) came in at 52.9, against a projected figure of 52.4.

At this juncture, the cross is notching an advance of +0.40% - as such, the Mataf.net analyst team posits the next means of resistance at 153.39, followed by 154.47, and ultimately 155.69. On the decline, a break below 151.09 will trigger short-term supports for the GBP/JPY at 149.87, ahead of 148.79.

United Kingdom: Markit Services PMI (Apr): 52.9 vs 52.4 (Mar)

Read more Previous

Forex: EUR/USD above 1.3100 ahead of EU economic growth forecasts

The EUR/USD was trading sideways around 1.3065 ever since the plunge on ECB Draghi’s press conference, admitting the readiness for negative deposit rates if needed, but money flows ahead of the European opening allowed a move back to 1.3100 ground as investors price in expectations ahead of the economic growth forecasts by the European Commission. The pair is pushing higher and has printed a high at 1.3116, for now.
Read more Next
Start livechat