2 Jul 2015
GBP/JPY remains in range after NFP
FXStreet (Córdoba) - The pound weakened against the yen after the release of the US employment report. GBP/JPY printed a fresh daily low at 191.97 but then managed to move of session lows.
Currently it trades at 192.25, around the same level it closed yesterday. During the Asian session rose toward 193.00 but lost strength and then made a bearish correction following US data as the yen climbed in the market.
GBP/JPY outlook
The pair still has a bearish outlook in the short-term, but since Tuesday is moving in a range with a strong support at 192.00 and resistance around the 193.00 handle. A break of the range could trigger further moves.
On Sunday, GBP/JPY opened the week with a 230-pips gap that is still open. The pair needs to rise back above 195.00 in order to fill it.
Currently it trades at 192.25, around the same level it closed yesterday. During the Asian session rose toward 193.00 but lost strength and then made a bearish correction following US data as the yen climbed in the market.
GBP/JPY outlook
The pair still has a bearish outlook in the short-term, but since Tuesday is moving in a range with a strong support at 192.00 and resistance around the 193.00 handle. A break of the range could trigger further moves.
On Sunday, GBP/JPY opened the week with a 230-pips gap that is still open. The pair needs to rise back above 195.00 in order to fill it.