Back
10 Mar 2014
GBP/JPY drops below 172.00
FXStreet (Córdoba) - The GBP/JPY bottomed during the American session at 171.52, the lowest price since last Thursday and then bounced slightly to the upside, holding below 172.00.
A weak Pound pushed the pair to the downside on Monday. Early in Asia printed a daily high at 172.86 but then started to move with a bearish bias, accelerating the downside on European hours.
GBP/JPY retreating further
Last Friday the GBP/JPY jumped to 173.57 but failed to hold and pulled back sharply. At the beginning of the week the pair is retreating further moving in a corrective mode. The main trend is still bullish but in the short-term the Yen continues to point higher against the Pound.
Data ahead in Japan and UK
According to the economic calendar, Tuesday could be a busy day for the pair. During the Asian session the Bank of Japan will announce its decision on monetary policy and on European hours, there are three economic reports from the United Kingdom and also, Bank of England’s governor, Mark Carney will speak at the Parliament.
A weak Pound pushed the pair to the downside on Monday. Early in Asia printed a daily high at 172.86 but then started to move with a bearish bias, accelerating the downside on European hours.
GBP/JPY retreating further
Last Friday the GBP/JPY jumped to 173.57 but failed to hold and pulled back sharply. At the beginning of the week the pair is retreating further moving in a corrective mode. The main trend is still bullish but in the short-term the Yen continues to point higher against the Pound.
Data ahead in Japan and UK
According to the economic calendar, Tuesday could be a busy day for the pair. During the Asian session the Bank of Japan will announce its decision on monetary policy and on European hours, there are three economic reports from the United Kingdom and also, Bank of England’s governor, Mark Carney will speak at the Parliament.