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13 Mar 2013
Forex: GBP/JPY holding above 143.00 on Yen weakness
Despite recent weakness in Pound, the weakest currency among majors for last 2 trading days, even weaker than Yen as the GBP/JPY cross reflects being below weekly initial price, GBP/JPY still trades above the 143 mark, last at 143.04, off session lows at 142.64, down -0.17% for the week so far.
Following worst UK monthly manufacturing production in 6 months, GBP/JPY slipped to fresh weekly lows at 142.00, off from yesterday's weekly highs at 144.16. All in all, GBP/JPY is about flat for the current year, as it printed highs on Jan 02 at 142.75. Nikkei index trades last slightly below the 11300 points mark, down -0.17% for the session, following yesterday's fresh 4.5-year highs above the 11400 points mark.
Immediate resistance to the upside for GBP/JPY shows at NY session highs 143.30, followed by Monday's Asian session highs at 143.65, and yesterday's weekly highs at 144.16. To the downside, closest support lies at recent session and Friday's lows 142.64, followed by yesterday's weekly lows at 142.00, and March 06 highs at 141.50.
Following worst UK monthly manufacturing production in 6 months, GBP/JPY slipped to fresh weekly lows at 142.00, off from yesterday's weekly highs at 144.16. All in all, GBP/JPY is about flat for the current year, as it printed highs on Jan 02 at 142.75. Nikkei index trades last slightly below the 11300 points mark, down -0.17% for the session, following yesterday's fresh 4.5-year highs above the 11400 points mark.
Immediate resistance to the upside for GBP/JPY shows at NY session highs 143.30, followed by Monday's Asian session highs at 143.65, and yesterday's weekly highs at 144.16. To the downside, closest support lies at recent session and Friday's lows 142.64, followed by yesterday's weekly lows at 142.00, and March 06 highs at 141.50.