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21 May 2013
GBP/JPY falls off highs to settle at 156.12/15
FXstreet.com (Barcelona) - The GBP/JPY erased the vast majority of its gains Tuesday, following a generally lackluster data release out of the United Kingdom during European trading.
In the United Kingdom, the Consumer Price Index (YoY and MoM) has climbed +2.4% in April (against expectations of +2.6%) and +0.2% in April (vs. a projection of +0.4%) respectively. In addition, the Core Consumer Price Index (YoY) yielded a figure of +2.0% in April, relative to a consensus of +2.3%.
At the time of writing, the GBP/JPY has eased off of the 156.48 handle to trade back at 156.12/15, or up only +0.06%. Mataf.net analysts point to resistive means for the GBP/JPY at 156.44, onto 156.73, and ultimately 157.16. Conversely, a break below the 155.72 mark will initiate support at 155.29 and 155.00.
In the United Kingdom, the Consumer Price Index (YoY and MoM) has climbed +2.4% in April (against expectations of +2.6%) and +0.2% in April (vs. a projection of +0.4%) respectively. In addition, the Core Consumer Price Index (YoY) yielded a figure of +2.0% in April, relative to a consensus of +2.3%.
At the time of writing, the GBP/JPY has eased off of the 156.48 handle to trade back at 156.12/15, or up only +0.06%. Mataf.net analysts point to resistive means for the GBP/JPY at 156.44, onto 156.73, and ultimately 157.16. Conversely, a break below the 155.72 mark will initiate support at 155.29 and 155.00.