GBP versus JPY floating over upbeat
2/17/2017 8:58:44 AM
According to Forex market trading GBP versus JPY is floating around 141.53 ahead of the UK data which is anticipated to show retail sales raised 0.89% month on month in January.
At the time of writing, the cross was caught between the 5-DMA and a 10-DMA level of 142.06 - 141.33 separately. The currency pair rallied to a high of 142.84 earlier this week before dropping back to 10-DMA level of 141.33.
A halt above 142.05 would subject 142.73, above which the cross may test supply around 144.17. On the other hand, a failure of support at 141.23 would subject 140.47. The next major support is seen at 140.03.
FOREX market analysis by FxErvin.