GBP/JPY weaker, flirting with 133.00

The Sterling remains on the defensive during the first half of the week, now relegating GBP/JPY to the lower end of the range near 133.00 the figure.

GBP/JPY focus on UK releases

The cross keeps the sideline fashion for yet another session today, unable to gather any traction as the selling pressure around GBP is not giving up for the time being.

Furthermore, the lack of a clear direction in the global markets prompts the Japanese currency to remain in a consolidative mode, collaborating with the downside.

UK’s docket is next on tap, with Trade Balance figures and Industrial/Manufacturing Production due for release later.

GBP/JPY key levels

As the moment the cross is retreating 0.43% at 133.01 and a break below 132.18 (low Aug.5) would open the door to 130.00 (psychological level) and then 128.77 (2016 low Jul.6). On the flip side, the initial hurdle lines up at 136.94 (20-day sma) ahead of 143.25 (high Jul.15) and finally 144.50 (50% Fibo of post-Brexit down move).