What are the key factors impacting markets today? The chart of the day is Sterling/Yen.
Author
Richard Perry
Independent Analyst
Richard Perry, Independent Market Analyst, has over 20 years of experience working in financial markets in London.
The cryptocurrency market pauses on Wednesday, following a brief, macro-driven rally the previous day. Bitcoin (BTC) is consolidating above $64,500, signaling waning bullish momentum and increased profit-taking as sellers emerge.
The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.
![GBP/JPY Analysis: support at 128.15/127.45, resistance at 129.50/130.00 [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Crosses/GBPJPY/five-ten-twenty-pounds-2957375.jpg)
