9 May 2014
GBP/JPY clings to 172.00
FXStreet (Córdoba) - The GBP/JPY has fallen to marginal new lows for the day after the latest string of UK data.
The pound weakened somewhat despite the release of mainly in line with expectations UK data. The UK industrial production contracted 0.1% in March versus -0.2% expected, while manufacturing output grew 0.5% vs 0.3% forecast. In the meantime, trade deficit shrunk to £1.284 billion during March against £1.713 billion the previous month.
GBP/JPY levels to watch
The GBP/JPY is currently trading at 172.05, having hit a low of 171.89 before bouncing back. Below 171.76, the GBP/JPY will be trading at its lowest since Apr 28, with next supports seen at 171.25 (Apr 28 low) and 171.08 (50-day SMA). On the other side, resistances could be faced at 172.28 (May 9 high) and 172.83 (May 8 high).
The pound weakened somewhat despite the release of mainly in line with expectations UK data. The UK industrial production contracted 0.1% in March versus -0.2% expected, while manufacturing output grew 0.5% vs 0.3% forecast. In the meantime, trade deficit shrunk to £1.284 billion during March against £1.713 billion the previous month.
GBP/JPY levels to watch
The GBP/JPY is currently trading at 172.05, having hit a low of 171.89 before bouncing back. Below 171.76, the GBP/JPY will be trading at its lowest since Apr 28, with next supports seen at 171.25 (Apr 28 low) and 171.08 (50-day SMA). On the other side, resistances could be faced at 172.28 (May 9 high) and 172.83 (May 8 high).