GBP/JPY slipping lower in Asia, ahead of UK Retail Sales
|- GBP/JPY down on Yen strength.
- UK Retail Sales at 09:30 GMT.
The Sterling is falling in Tokyo trading as the Yen resumes its march up the charts; GBP/JPY is testing 149.40 as of writing.
GBP/JPY is giving up gains made in early Asia markets as the Yen continues to climb, even as Bank of Japan (BoJ) Governor Kuroda appeared once again in Japan's parliament today in order to publicly address markets, reiterating the BoJ's stance on easy montary policy, with the central bank dedicated to asset purchasing programs and low interest rates until the economy reaches acceptable growth levels. Kuroda is hoping that the constant reminders and sooth-talking will get the message through to traders to stop buying the Yen, but this hasn't had much effect so far, with the Yen knocking on 15-month highs against the US Dollar.
The UK will be dropping Retail Sales figures at 09:30 GMT today, and while analysts are expecting a muted reading, a positive beat could give the Sterling the boost it needs to resume pushing higher.
GBP/JPY Technicals
The pair is bound by Thursday's high/low at 150.17 and 148.93 respectively, while a bullish break wil run into resistance at 151.30 and abearish continuation will need to closer over and hold support at the psychological handle, 149.00.
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