OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: GBP/JPY drifting lower slightly higher

FXstreet.com (London) - GBP/JPY has come up from lows 154.97 when Japans better that expected numbers in April Domestic Corporate Goods Price Index coming out at 0,0% y/y vs 00.2% lifted up the currency temporarily.

USD/JPY also traded lower. The session has broken the descending channel formation and is oscillating in a narrow rage with a high 155.54. A failure to break higher eyes in for much lower lows from levels set in last weeks break out and run to weekly highs with a reversal back beneath 152.15. Resistance is sighted at 156.72, being the 76.4% fib expansion and a break above there would aim 100% level at 159.00. Near term support is at 154.75, the 61.8% fib.

Forex Flash: Yen strengthening has failed to dampen JGB selling – BTMU

The yen has recovered some its recent losses against the US dollar overnight. Japanese Economy Minister Amari spoke overnight reiterating the G7 stance that it is “important that currencies are not volatile” which may have dampened speculative yen selling given that on a trade-weighted basis the pace of yen weakness since October has been equivalent to it losing around a third of its value if continued over a whole year.
Read more Previous

Forex Flash – disappointing ZEW – TD Securities

Research teams for TD Securities comment on ZEW
Read more Next
Start livechat