GBPJPY has been trading under pressure this week. The pair dipped below the lower limit of the Overbalance structure at 150.00 yesterday. However, British pound is one of the best performing major currencies today, thanks to solid data released in the morning. UK retail sales jumped 7.2% YoY in March (exp. +4.2% YoY) while retail sales excluding auto and fuel sales jumped 7.9% YoY (exp. +4.5% YoY). GBPJPY is trading 0.3% higher. From a technical point of view, whether the pair finishes today's trading below or above the aforementioned 150.00 will be crucial. Note that flash PMI data from the United Kingdom will be released at 9:30 am BST and it may turn out to be a trigger for short-term volatility on GBPJPY market..
GBPJPY has been underperforming this week and the pair dipped below the lower limit of the Overbalance at 150.00 yesterday. However, GBPJPY tries to climb back above it today, thanks to release of solid retail sales data for March. Source: xStation5
