GBP/JPY getting comfortable near 145.50 with little to drive major moves on Monday


  • The Guppy continues to test into familiar levels as traders struggle to force a new direction in the pair ahead of Japan data.
  • A major rate decision is due from the BoE later this week, which could keep GBP bulls on the sidelines for now.

The GBP/JPY heads into Monday's trading action facing downside pressure after last week's action saw the pair struggle to make progress to the high side, and the Sterling is seeing thin action near 145.50 at the outset of the new trading week.

The JPY kicks off the new week with Retail Trade figures due late Sunday at 23:50 GMT, and the y/y Retail Trade figures for June are expected to jump from 0.6% to 1.6%, while Large Retailers' Sales for June are expected to decline slightly from -0.2% to -0.4%.

On the Sterling side, Monday will be seeing June's Mortgage Approvals at 08:30 GMT, which are expected to improve to 65.5 thousand after the previous period's 64.526 thousand reading. The GBP has had a bad go for economic data in recent weeks, causing the Pound to accelerate a decline from July's highs.

GBP/JPY Levels to watch

As the Guppy continues to fall away from July's highs at 149.30, the pair sees declining resistance from a falling trendline, as well as a ceiling capping off any upside from 146.50, while a weak floor is seen at last week's bottom of 145.25.

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD slips below 1.08 amid weak data, coronavirus headlines

EUR/USD is trading below 1.08 as eurozone Sentix Investor Confidence plunges to -42.9, around the 2008 crisis levels. Encouraging coronavirus headlines kept the euro bid earlier.

EUR/USD News

GBP/USD under pressure amid concerns about UK PM´s health

The GBP/USD pair is under pressure trading below the 1.2300 level as news that PM Boris Johnson has been hospitalized due to “persistent symptoms,” according to his spokesman. Rumors mounting Johnson is in worse shape than reported.

GBP/USD News

XRP leads cryptos on the verge of a new bullish trend

XRP/USD crosses the long-term bearish channel ceiling and signals the launch of a new uptrend in the crypto market. Ether should be the positive player in the coming weeks. Market sentiment remains very pessimistic despite the significant improvement in recent hours.

Read more

Gold: Bulls remain in control near 2-week tops, around $1640 region

Gold gained positive traction for the fourth consecutive session on Monday and climbed to near two-week tops, around the $1638 region during the mid-European session.

Gold News

WTI rebounds above mid-$27s as investors stay focused on OPEC headlines

Crude oil prices came under strong selling pressure after developments over the weekend revealed that the OPEC+ emergency meeting got postponed to Thursday to give more time to sides to negotiate.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures