GBP/JPY continues to churn around 200.00 in choppy intraday action on Monday, extending a near-term consolidation phase as both currencies grapple with disappointment in economic data.
GBP/JPY pinned to 200.00 handle in rough price action. Japan GDP disappointment gives way to BOJ rate call on Friday. UK labor figures due Wednesday, unemployment claims expected to rise. Japanese Gross Domestic Product growth declined in Q1, contracting -0.5% QoQ. Easing economic figures will make it even more difficult for the Bank of Japan to unglue itself from a hyper-easy monetary policy stance, and investors will be focusing down the BoJ’s rate call and policy statement due early Friday.
3% for the three-month period through April, while investors will be keeping a close eye on the 3-month Employment Change through April which last showed a -177K contraction in UK employed positions. GBP/JPY technical outlook Hourly candles have turned into a sideways affair, driving into a rough consolidation pattern around the 200-hour Exponential Moving Average at 199.38. The pair recovered from a recent dip to June’s lows near 197.
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