23 Jul 2013
GBP/JPY sub 153.00
FXstreet.com (London) - GBP/JPY has moved further away from 153.00 on the release of a weak set of BBA Mortgage Approvals.
GBP/JPY shed 15 immediate pips on the release with number for June Approvals coming in at just 37.3K vrs 38.5K expected although slightly better than a previous 36.1K. The market keenly awaits Thursdays GDP for the UK and while sentiment for now from the banks is to fade Sterling rallies.
GBP/JPY to attract more bids?
GBP/JPY had regained territory with a closing weekly stick above 153.00 and within the rising bull channel. However, the pair are trading sub 153.00 again, but this may attract yet more bids and a target for the pair in continuation of the up trend would be to gain the 154.25 and extend moves towards 156.75 and closing on the weekly chart. To the downside 151.20 acts as key support.
GBP/JPY shed 15 immediate pips on the release with number for June Approvals coming in at just 37.3K vrs 38.5K expected although slightly better than a previous 36.1K. The market keenly awaits Thursdays GDP for the UK and while sentiment for now from the banks is to fade Sterling rallies.
GBP/JPY to attract more bids?
GBP/JPY had regained territory with a closing weekly stick above 153.00 and within the rising bull channel. However, the pair are trading sub 153.00 again, but this may attract yet more bids and a target for the pair in continuation of the up trend would be to gain the 154.25 and extend moves towards 156.75 and closing on the weekly chart. To the downside 151.20 acts as key support.