The GBP/JPY barely moved on Thursday amid thin liquidity conditions and is hovering around 191.00, virtually unchanged as Friday’s Asian session begins.
GBP/JPY hovers around 191.00, reflecting market caution ahead of Japanese unemployment and industrial production updates. Wall Street ends Q1 on a mixed note, with UK's recession confirmation and vigilance over JPY's weakness influencing sentiment. Technical analysis suggests potential for movement if GBP/JPY breaches key levels, with 192.00 and 193.00 as notable targets. Wall Street posted a stellar first quarter of 2024, with the S&P 500 and the Dow Jones finishing in the green.
4%, while Retail Sales are foreseen to expand by 3%. GBP/JPY Price Analysis: Technical outlook The GBP/JPY is subdued as liquidity conditions tumble. If buyers regain control, they must push prices above the Tenkan-Sen level at 191.57, which could open the door to challenge 192.00. Further upside is seen at 193.00, followed by the year-to-date high at 193.53 On the flip side, if the pair drops below 191.00, that would pave the way for further losses.
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