GBP/JPY fails to hold on to recovery gains amid recent risk-off, Brexit news


  • UK politicians keep plotting to topple PM Johnson, delay Brexit.
  • US-China trade tussle, North Korean missile tests renew risk-off.
  • Lack of data highlights trade/political news for fresh impulse.
  • Having benefited from upbeat UK data and a mild risk recovery, the GBP/JPY pair again declines to 128.30 on early Friday.

Thursday’s upbeat UK Retail Sales growth and comments from the US that China might not retaliate upcoming tariffs triggered the pair’s pullback on the previous day.

However, early-day statements from China’s Global Times poured cold water on the expectations. Also weighing the risk sentiment is North Korea’s another missile test round. In a reaction, the US 10-year treasury yields keep it low around 1.527% by the press time.

On the other hand, British lawmakers are plotting to topple the UK Prime Minister (PM) Boris Johnson with a no-confidence vote as soon as early September and also delay the Brexit. Though, the US President Donald Trump’s comment to likely have strong trading ties with the UK PM Johnson and company keep the Pound in check.

With the little or no major data up for publishing during the rest of the day, investors can keep an eye over the trade/political headlines for fresh direction. It should also be noted that British Chancellor of Exchequer Sajid Javid will travel to Berlin and meet Germany’s finance minister Olaf Scholz.

Technical Analysis

Unless breaking early-month low near 130.00, prices are less likely to aim for 131.70 and July 31 top at 133.00. In doing so, 127.40 and 126.50 can please short-term sellers.

Additional important levels

Overview
Today last price 128.27
Today Daily Change 3 pips
Today Daily Change % 0.02%
Today daily open 128.24
 
Trends
Daily SMA20 131.03
Daily SMA50 134.16
Daily SMA100 138.51
Daily SMA200 141
Levels
Previous Daily High 128.99
Previous Daily Low 127.47
Previous Weekly High 130.08
Previous Weekly Low 126.96
Previous Monthly High 137.8
Previous Monthly Low 131.61
Daily Fibonacci 38.2% 128.41
Daily Fibonacci 61.8% 128.05
Daily Pivot Point S1 127.48
Daily Pivot Point S2 126.71
Daily Pivot Point S3 125.95
Daily Pivot Point R1 129
Daily Pivot Point R2 129.76
Daily Pivot Point R3 130.52

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD falls off the highs amid trade wars, weak German figures

EUR/USD is falling toward 1.1100. The German IFO Business Climate dropped to 94.3 points, below expectations. Markets are concerned by the intensifying US-Sino trade wars.

EUR/USD News

GBP/USD consolidates amid Brexit uncertainty

GBP/USD is trading below 1.2300, consolidating its gains. The UK and the EU have been blaming each other for a potential no-deal Brexit. US-Sino tensions are in play as well.

GBP/USD News

USD/JPY recovers farther from multi-year lows on Trump’s positive trade-related comments

The incoming positive trade-related comments dented the JPY’s safe-haven demand. Improving global risk sentiment helped the pair to recover around 150-pips intraday. Investors now look forward to the US durable goods orders data for a fresh impetus.

USD/JPY News

Gold retreats from multi-year tops, fills weekly bullish gap on positive trade headlines

Gold extended its intraday pullback from fresh multi-year tops and dropped to fresh session lows in the last hour, filling the weekly bullish gap. The US-China trade tensions escalated further.

Gold News

Forex Today: Trade wars paint markets in red, Brexit looks worse, and central banks are limited

Here is what you need to know on Monday, August 26th: The US-Sino trade war is painting global markets in the red. The US dollar is losing some ground to major currencies as yields plunge, while it gains against commodity currencies. Gold is rising and oil is falling.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •