After closing at 169.21 yesterday, GBP/JPY opened today at 169.21, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, GBP/JPY retains a distinct 167.58 to 169.83 daily range.
Amid the market gloom, Japan Tertiary Industry Activity Index (MoM) released yesterday at 04:30 UTC with a figure of 0.7, while the previous figure was -0.5. Japan Industrial Production came out at 3.4%, better than analyst estimates of 2.7% and improving upon the previous reading of 2.7%.
In the meantime, negative performances are seen in other pairs, after ending yesterday's session at 2.0231, GBP/NZD lost 313 pips and is trading around 1.9917. After ending yesterday's session at 1.753, EUR/NZD lost 203 pips and is trading around 1.7326.
Positive performances can be seen by looking at other currencies as NZD/USD is up 1.1%.
Furthermore, United Kingdom Consumer Price Index figure is projected at 10%. It previously stood at 9.9%; data will be released tomorrow at 06:00 UTC. United Kingdom PPI Input (MoM) (Sep) is scheduled for tomorrow at 06:00 UTC. Japan Exports is projected to outperform its last figure with 27.1%. It previously stood at 22%; data will be released tomorrow at 23:50 UTC.
As things stand, Pound-Yen is 17% away from a significant low of 144.6 first set 9 days ago.