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12 Jun 2013
GBP/JPY surges to 151.60/62
FXstreet.com (New York) - The <a href="http://www.fxstreet.com/technical/currencies-glance/pair.aspx?id=gbp/jpy">GBP/JPY technical cross rebounded Wednesday during European trading, following a plunge below the 150.00 region yesterday.
GBP/JPY rises on upbeat UK figures
In the United Kingdom, the Claimant Count Change (May) fell -8.6K, beating expectations of only -5.0K. Moreover, the Claimant Count Rate (May) grew by +4.5%, matching projections. Finally, the ILO Unemployment Rate (3m) was held at 7.8% in April, in line with estimates.
Movement above 151.80 will allay GBP/JPY bearishness
According to the ICN.com Technical Analyst Team, “The GBP/JPY cross remained stable below 151.80, keeping the downside intraday move expectations valid waiting for targets that starts at 150.00 and extends towards 147.65 levels. Ultimately, breaching 151.80 will halt our bearish outlook.”
Amidst the uptrend, the pair is now settling at 151.60/62 in these moments, securing an advance of +0.91 above its opening. The Mataf.net analyst team points to the next levels of resistive correction at 153.38, onto 156.01, and eventually 158.02. Alternatively, a plunge into negative territory will eventually drive the pair towards supports at 148.74, then 146.73, ahead of 144.10.
GBP/JPY rises on upbeat UK figures
In the United Kingdom, the Claimant Count Change (May) fell -8.6K, beating expectations of only -5.0K. Moreover, the Claimant Count Rate (May) grew by +4.5%, matching projections. Finally, the ILO Unemployment Rate (3m) was held at 7.8% in April, in line with estimates.
Movement above 151.80 will allay GBP/JPY bearishness
According to the ICN.com Technical Analyst Team, “The GBP/JPY cross remained stable below 151.80, keeping the downside intraday move expectations valid waiting for targets that starts at 150.00 and extends towards 147.65 levels. Ultimately, breaching 151.80 will halt our bearish outlook.”
Amidst the uptrend, the pair is now settling at 151.60/62 in these moments, securing an advance of +0.91 above its opening. The Mataf.net analyst team points to the next levels of resistive correction at 153.38, onto 156.01, and eventually 158.02. Alternatively, a plunge into negative territory will eventually drive the pair towards supports at 148.74, then 146.73, ahead of 144.10.