• 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

GBP/JPY

Overview
Today last price 152.9
Today Daily Change 0.07
Today Daily Change % 0.05
Today daily open 152.83
 
Trends
Daily SMA20 152.22
Daily SMA50 153.59
Daily SMA100 152.59
Daily SMA200 147.06
 
Levels
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

 


 

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