Posted 2/29/2024, 6:42:22 PM
GBP/JPY Retreats Toward 189 as Yen Strengthens on Weak Japanese Industrial Data
- GBP/JPY fell back towards 189.00 after Yen strengthened following Japanese data
- Japan Retail Sales met forecasts while Industrial Production declined more than expected
- Japan Unemployment Rate update due Friday, forecast to hold at 2.4%
- GBP/JPY dropped 0.8% Thursday, trading into heavy supply zone around 189.00
- Despite weakness, GBP/JPY holds above 200-day SMA; bullish broader outlook intact