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13 Aug 2013
GBP/JPY leads uprising on bullish rally
FXstreet.com (Chicago) - GBP/JPY tops major winners among major currency pairs with 1.30% gains against the yen.
UK was prolific releasing economic data this morning. The consumer price index (MoM) for July matched expectations at 2.8% along a producer price index that failed to meet 5.5% estimates crawling to 5.0%. In Japan, the Nikkei 225 closed with gains at 2.57% setting the tone for an uplifting session as market participants share bullish sentiments across the board.
Price action indicates a short retracement from 152.00 zone as the pair trades at 151.81 between supports at 151.55 (July 9th highs), 151.21 (July 12th highs) ahead of 150.89 (July 30th highs) and resistances at 152.05 (July 16th highs), 152.33 (July 23rd lows) followed by 152.65 (July 1st highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis.
UK was prolific releasing economic data this morning. The consumer price index (MoM) for July matched expectations at 2.8% along a producer price index that failed to meet 5.5% estimates crawling to 5.0%. In Japan, the Nikkei 225 closed with gains at 2.57% setting the tone for an uplifting session as market participants share bullish sentiments across the board.
Price action indicates a short retracement from 152.00 zone as the pair trades at 151.81 between supports at 151.55 (July 9th highs), 151.21 (July 12th highs) ahead of 150.89 (July 30th highs) and resistances at 152.05 (July 16th highs), 152.33 (July 23rd lows) followed by 152.65 (July 1st highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis.