GBP/JPY had dropped from 152.00 to gap in the charts and now prints 150.43/50. There hadn’t really been too much to Kuroda’s speech to note, other than things are moving in the right direction. This week we will see US pending home sales and things will start to pick up for the pair later in the week, kicking off with the release of US Q2 GDP, then FOMC, PMI’s and BoE. What will Carney bring to the table? There will also be some investment and housing Japanese data in focus.
GBP/JPY below 50d ma
GBP/JPY has fallen through the channel's support line and now trades below the 50d ma,151.60, making for the potential of a bearish play on the pair going forward. While below 152.35, 149.75, 148.80 and 148.30 come in at support.