|Day's range||145.95 - 146.663|
|52-week range||139.446 - 156.087|
Trump’s comments may have ignited the initial sell-off in the Dollar/Yen, however, they are now an afterthought due to the reports that the BOJ is considering a shift in monetary policy. The story is still breaking and details are sparse, but investors are wasting no time waiting for official word which probably won’t come out until next week’s central bank meeting.
The British pound fell during the bulk of the week, in terms of Japanese yen. However, there seems to be a significant amount of support just below in the form of the ¥145 level, and we most certainly have not broken below there.
The British pound fell again during the day on Friday in the Japanese yen terms, as we reached towards a significant support area in the form of ¥146 and uptrend line. At this point, I think that we are trying to build up enough momentum to bounce, but I also recognize how precarious the situation could be.
The British pound broke down significantly during the day on Thursday again, slicing below the ¥147 level. This shows even more weakness, and it looks as if we are going to go looking towards the previous uptrend line.
Investing.com - The pound dropped below the $1.30 level on Thursday as a result of an unexpected drop in consumer spending in June, further slimming the chances of a Bank of England rate hike in August.
The UK’s retail sales figures dropped unexpectedly in June. Sales declined by 0.5% in June compared to a growth of 1.4% in May. YoY Retail sales grew by 2.9, below analysts expectation of 3.7%. Pound hits a 10-month low near 1.30 versus the US dollar.
The British pound suffered again during the day on Wednesday, as political theater continues to drive where the currency is going in the short term. This market is potentially sensitive to risk, so it makes sense that the GBP/JPY pair got particularly hammered.
The British Pound continues its fall on Wednesday morning, trading at 1.3087, down 0.18%. The pound falls on reports that Theresa May could face a defeat on the latest Brexit Vote.
The European Union and Japan signed a historic deal on Tuesday that will remove any tariffs on products they exchange.
The British pound was noisy during the session on Tuesday, crashing into the ¥148.50 level, an area that has been important more than once. As I record this, we are sitting right on that level and testing the gap that opened the week. Because of this, we could get a larger move.
The pound sterling has been trying to strengthen over the last few days but has not succeeded so far. The major fear of the pound traders lies in Brexit negotiations which are paused or disputed every now and then. Jobless claims in the UK rose by 7,800 against the expectations at 2,300 and the previous number of 7,700.
The British pound rallied during the trading session on Monday, reaching towards the ¥149.50 level. The market seems a little bit overextended at this point, and most certainly we do have a major psychological barrier above at the ¥150 level.
The British pound rallied significantly during the week, after initially dipping against the Japanese yen. It looks as if the Japanese yen will continue to get pounded, mainly because it is obvious that with the inverting yield curve, the Bank of Japan will not be tightening monetary policy anytime soon.
The British pound initially fell during the day on Friday, breaking down towards the ¥147.50 level before turning around and showing signs of life. The market looks as if it is trying to go higher though, as the Americans, board.
The British pound continue to climb against the Japanese yen during trading on Thursday, as the Japanese yen was hammered by several currencies around the world. It looks as if we have reached the ¥140.50 level, an area that has been important at one point. However, I think that we more than likely will continue to see buyers coming in on dips as they represent value.
The British pound was flat during most of Wednesday against the Japanese yen, hovering around the ¥147.25 level. We did initially dip during the day but found enough support to bounce towards his level and essentially sit still. This is a market that’s probably going to be a bit difficult in the short term, because we have so many headlines around the world that could affect risk appetite.
The British pound rallied slightly against the Japanese yen on Tuesday as we approached the ¥147.50 level. This is an area that has been resistive in the past, but I think will be overcome if we can continue to get more of a “risk on” attitude around the world.
It’s been a very lively and busy few days in the UK. There are many scenarios and opinions flying about at the moment, but what do we make of the current situation? Let’s take a step back and look at the facts.
Cable (GBPUSD) took a hit yesterday as Boris Johnson resigned from the Cabinet following the earlier decision by David Davis to part ways with his post as Brexit Secretary. Global stocks rise on Tuesday morning ahead of US earnings season.
The full impact of the move has yet to be priced in with the possibility that PM May now places a more “enthusiastic believer” in the role which could result in a shift in Brexit negotiations going forward.
The British pound has done very little against the Japanese yen during the week, which of course makes a lot of sense as there was a major “risk” event coming out on Friday in the forms of the US jobs number, but also, we have a lot of concerns when it comes to the Asian markets with potential trade wars.
The British pound rally slightly against the Japanese yen during trading on Friday after the positive job report of the United States which kicked off a bit of a “risk on” attitude. However, there is a significant amount of resistance above in the form of the top of the shooting star from Thursday, and at this point it does not look like we are going to be able to break above that.
The British pound rallied significantly against the Japanese yen during the trading session on Thursday, breaking cleanly above the ¥146 level. However, today is the jobs number coming out of the United States, and that of course will have a major influence on the risk appetite of the next couple of days.
The British pound rallied a bit during the day on Wednesday, testing the vital ¥146 level. That’s an area that has been resistance recently, and therefore I think it’s only a matter time before the market has two make up its mind for longer-term move, but with the Americans away for Independence Day, it makes sense that it wasn’t going to happen during Wednesday.
In case the U.S. holiday & upbeat UK Services PMI manage to propel the pair beyond 1.3230 barrier, the 1.3270 and the 1.3300 are likely following numbers to appear on the chart ahead of highlighting nearly two-month old descending TL, at 1.3335 now. On the contrary, pair’s failure to surpass the 1.3230 hurdle can drag it back to 1.3170 and then to the ascending TL support of 1.3130. GBPJPY’s latest advances, as portrayed by an immediate upward slanting trend-line, seems helping the pair to again confront seven-week long descending trend-line resistance of 146.25.