GBP/JPY holds below 192.00 following UK Retail Sales data

Source Fxstreet
Apr 19, 2024 06:44
  • GBP/JPY loses momentum around 191.65, down 0.31% on the day. 
  • The UK Retail Sales came in at 0% MoM in March from a 0.1% rise in the previous reading, weaker than expected. 
  • The report that an Israeli missile has hit Iran lift the Japanese Yen against the Pound Sterling. 

The GBP/JPY cross edges lower to 191.72 during the early European session on Friday. The downbeat UK Retail Sales weigh on the Pound Sterling (GBP). Additionally, the rising tension between Israel and Iran heightens concerns of a wider conflict in the Middle East, providing some support to safe-haven currencies like the Japanese Yen (JPY) and creating a headwind for the GBP/JPY cross. 

The latest data from the Office for National Statistics showed on Friday that UK Retail Sales arrived at 0% MoM in March from a 0.1% rise in the previous reading, weaker than the market expectation of 0.3%. Meanwhile, the Retail Sales ex-fuel dropped by 0.3% MoM, compared with a 0.3% increase in February. In response to the UK Retail Sales figures, The Pound Sterling (GBP) remains under selling pressure against the JPY. 

On the other hand, Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday that the “main scenario is that future rate hikes are likely to be slow, but that depends on economic data, while BoJ Governor Kazuo Ueda said that the Japanese central bank may raise interest rates again if the Yen's declines considerably increase inflation. Ueda further stated that the impact of FX moves might affect the timing of the next policy shift. 
 
Early Friday, US officials told CBS News that an Israeli missile had hit Iran. Blasts were reported in the central province of Isfahan, however, it is unclear what was targeted. Iran is on high alert after Israel said that it would retaliate to an Iranian strike on Saturday night. The escalating tensions between Israel and Iran could boost the safe-haven flow demand and continue to lift the JPY.  

GBP/JPY

Overview
Today last price 191.64
Today Daily Change -0.68
Today Daily Change % -0.35
Today daily open 192.32
 
Trends
Daily SMA20 191.57
Daily SMA50 190.6
Daily SMA100 187.45
Daily SMA200 185.51
 
Levels
Previous Daily High 192.79
Previous Daily Low 191.91
Previous Weekly High 193.02
Previous Weekly Low 190
Previous Monthly High 193.54
Previous Monthly Low 187.96
Daily Fibonacci 38.2% 192.45
Daily Fibonacci 61.8% 192.25
Daily Pivot Point S1 191.89
Daily Pivot Point S2 191.46
Daily Pivot Point S3 191.02
Daily Pivot Point R1 192.77
Daily Pivot Point R2 193.22
Daily Pivot Point R3 193.65

 

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
NZD/USD gains traction above 0.6100 ahead of US PMI dataThe NZD/USD pair gains momentum around 0.6108 during the Asian trading hours on Thursday.
Source  Fxstreet
The NZD/USD pair gains momentum around 0.6108 during the Asian trading hours on Thursday.
placeholder
GBP/USD exposed to downside after hesitant FOMC outlook, surprise UK election announcementGBP/USD is pulling back from Wednesday’s early gains after the Federal Reserve’s (Fed) latest Meeting Minutes showed the Federal Open Market Committee (FOMC) remains deeply skeptical that inflation will ease to 2% quickly enough to spark rate cuts as soon as investors continue to hope for.
Source  Fxstreet
GBP/USD is pulling back from Wednesday’s early gains after the Federal Reserve’s (Fed) latest Meeting Minutes showed the Federal Open Market Committee (FOMC) remains deeply skeptical that inflation will ease to 2% quickly enough to spark rate cuts as soon as investors continue to hope for.
placeholder
NZD/USD Price Analysis: Falls sharply to 0.6100 as focus shifts to RBNZ policy decisionThe NZD/USD pair faces selling pressure and drops to the round-level support of 0.6100 in Monday’s New York session.
Source  Fxstreet
The NZD/USD pair faces selling pressure and drops to the round-level support of 0.6100 in Monday’s New York session.
goTop
quote