- GBP/JPY accumulates gains for the past two sessions
- The sterling benefits from the drop in fresh coronavirus cases.
- Yen remains on backfoot on IMF downgrade and renewed Delta variant threat.
GBP/JPY moves cautiously toward the 153.00 mark in the European trading hour on Thursday. The pair hovers in a narrow trade band.
At the time of writing, the GBP/JPY pair is trading at 152.88, up 0.09% for the day.
The sterling remains firm after the reports that the UK’s coronavirus infections drop for the seventh consecutive day to 23,511 on Tuesday.
The optimism surrounding Brexit also boosts the sentiment around the British Pound. In the latest development, the EU pauses its two separate lawsuits against the UK.
It is worth noting that, the S&P 500 Futures are trading at 4,389 with 0.10% losses.
On the other hand, the Japanese yen pares its gains after the International Monetary Fund (IMF) cut Japan’s growth forecast to 2.8% in 2021 from earlier 3.3%.
The Bank of Japan’s (BOJ) Summary of Opinions reveals policymakers worries over the economic recovery due to the rapid spread of the Delta variant.
On the economic data front, Japan’s Leading Index eases in May to 102.6 from 103.8 in April.
As for now, the market dynamics continues to influence the pair’s performance.
GBP/JPY additional levels
|Today last price||152.9|
|Today Daily Change||0.07|
|Today Daily Change %||0.05|
|Today daily open||152.83|
|Previous Daily High||152.99|
|Previous Daily Low||152.18|
|Previous Weekly High||152.16|
|Previous Weekly Low||148.46|
|Previous Monthly High||155.94|
|Previous Monthly Low||151.32|
|Daily Fibonacci 38.2%||152.68|
|Daily Fibonacci 61.8%||152.49|
|Daily Pivot Point S1||152.34|
|Daily Pivot Point S2||151.86|
|Daily Pivot Point S3||151.53|
|Daily Pivot Point R1||153.15|
|Daily Pivot Point R2||153.48|
|Daily Pivot Point R3||153.96|
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.