GBP/JPY sticks to modest losses, around mid-146.00s post-UK jobs data

The GBP/JPY cross held on to its weaker tone around mid-146.00s and moved little following the release of UK employment details. 

The cross failed to capitalize on its recent positive momentum and once again failed near the 147.00 round figure mark, snapping four consecutive days of losing streak. A modest pickup in demand for the Japanese Yen turned out to be one of the key factors prompting some long-unwinding trade, which coupled with a subdued GBP price action further collaborated to the pair's early dip to an intraday low level of 146.32.

Meanwhile, the British Pound found some support at lower levels after the latest UK jobs report showed that the UK average earnings including bonuses rose 3.5%, while earnings excluding bonuses held steady at 3.4% for the three months to February. Adding to this, the UK unemployment rate also remained unchanged at 3.9% during the reported period, though the positive readings were partly offset by an unexpected jump in the UK claimant count.

This coupled with the fact that cross-party talks between the UK PM Theresa May and opposition leader Corbyn, aimed to break the Brexit deadlock, are yet to produce any positive results might hold investors from placing any aggressive GBP bullish bets and further collaborated towards capping any meaningful up-move, at least for the time being.

Technical levels to watch


Today last price 146.52
Today Daily Change -0.21
Today Daily Change % -0.14
Today daily open 146.73
Daily SMA20 145.77
Daily SMA50 145.36
Daily SMA100 143.52
Daily SMA200 144.64
Previous Daily High 147
Previous Daily Low 146.35
Previous Weekly High 147.02
Previous Weekly Low 144.77
Previous Monthly High 148.88
Previous Monthly Low 143.72
Daily Fibonacci 38.2% 146.75
Daily Fibonacci 61.8% 146.6
Daily Pivot Point S1 146.39
Daily Pivot Point S2 146.04
Daily Pivot Point S3 145.73
Daily Pivot Point R1 147.04
Daily Pivot Point R2 147.35
Daily Pivot Point R3 147.69



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 clings to 1.1200 as markets price an ECB cut, ahead of the Fed

EUR/USD is consolidating its losses after ECB's Draghi said that more stimulus may be needed soon. He speaks again today but the focus shifts to the Fed decision which is also expected to hint about an upcoming cut.


GBP/USD holds onto gains after inflation meets expectations

GBP/USD is trading closer to 1.2600 after UK inflation has met expectations. Opposition leader Corbyn will reportedly support a second referendum today. Boris Johnson increased his lead in the race to become PM. 


USD/JPY: waiting for Fed's announcement

USD/JPY extends its consolidative phase ahead of the central bank's critical decision. Japanese adjusted trade deficit widened in May amid falling exports.


Gold struggles to build on Tuesday's gains, sits above $1340

The troy ounce of the precious metal gained $15 on Tuesday as investors saw gold as a better investment alternative to major currencies amid the dovish shifts seen in central banks' tone.

Gold News

FOMC Preview: to be or not to be 'patient'

That concerns about a global economic slowdown had made policymakers worldwide take a dovish shift is no news. Neither is that the financial market has already priced in at least one rate cut in the US for this year.

FED news