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12 Aug 2013
Weak Japan's GDP keeps GBP/JPY below 149.50
FXstreet.com (Chicago) - GBP/JPY remains below 149.50 after Japan published GDP falling short to meet expectations.
The yen strengthened on GDP data against the cable being currently held on to 149.00 support. At 2.6%, the Japanese GDP (Q2) evidenced potential stimulus from the Asian government as projections were 1% above results.
Technically speaking, the pair dropped slightly to trade at 149.13 between supports at 148.85 (August 9th lows), 148.63 (July 10th lows) and 148.44 (August 8th lows) with resistances at 149.05 (July 14th lows), 149.22 (June 22nd lows), 149.45 (July 16th lows). The FXstreet trend index reports the pair as slightly bearish on one-hour timeframe analysis with price below the 20-EMA.
The yen strengthened on GDP data against the cable being currently held on to 149.00 support. At 2.6%, the Japanese GDP (Q2) evidenced potential stimulus from the Asian government as projections were 1% above results.
Technically speaking, the pair dropped slightly to trade at 149.13 between supports at 148.85 (August 9th lows), 148.63 (July 10th lows) and 148.44 (August 8th lows) with resistances at 149.05 (July 14th lows), 149.22 (June 22nd lows), 149.45 (July 16th lows). The FXstreet trend index reports the pair as slightly bearish on one-hour timeframe analysis with price below the 20-EMA.