Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Yesterday’s trade saw GBP/JPY within the range of 183.61-191.68. The pair closed at 186.81, losing 2.10% on a daily basis, or the most considerable daily loss since July 8th, when it depreciated 2.12%. The daily low has also been the lowest level since May 8th, when the cross registered a low of 182.48.

At 9:27 GMT today GBP/JPY was up 1.16% for the day to trade at 189.01. The pair touched a daily high at 189.26 at 3:55 GMT.

No relevant macroeconomic reports and/or events are scheduled for announcement out of the United Kingdom and Japan today.

Bond Yield Spread

The yield on Japanese 2-year government bonds went as high as 0.010% on August 24th, or the highest level since August 11th (0.013%), after which it slid to 0.006% at the close to remain unchanged compared to August 21st.

The yield on UK 2-year government bonds climbed as high as 0.679% on August 24th, or the highest level since August 5th (0.689%), after which it fell to 0.677% at the close to gain 17.4 basis points (0.174 percentage point) compared to August 21st. It has been the first gain in the past four trading days.

The spread between 2-year UK and 2-year Japanese bond yields, which reflects the flow of funds in a short term, expanded to 0.671% on August 24th from 0.497% on August 21st. The August 24th yield difference has been the most considerable one since June 26th, when the yield spread was 0.680%.

Meanwhile, the yield on Japan’s 10-year government bonds soared as high as 0.362% on August 24th, after which it slid to 0.358% at the close to remain unchanged compared to August 21st. The yield dropped to as low as 0.349% yesterday, or the lowest level since May 1st (0.342%).

The yield on UK 10-year government bonds climbed as high as 1.834% on August 24th, or the highest level since August 19th (1.901%), after which it slipped to 1.804% at the close to add 10.6 basis points (0.106 percentage point) compared to August 21st. It has been the first gain in the past four trading days.

The spread between 10-year UK and 10-year Japanese bond yields widened to 1.446% on August 24th from 1.340% on August 21st. The August 24th yield difference has been the largest one since August 19th, when the spread was 1.467%.

Daily and Weekly Pivot Levels

By employing the Camarilla calculation method, the daily pivot levels for GBP/JPY are presented as follows:

R1 – 187.55
R2 – 188.29
R3 (range resistance – green on the 30-minute chart) – 189.03
R4 (range breakout – red on the 30-minute chart) – 191.25

S1 – 186.07
S2 – 185.33
S3 (range support – green on the 30-minute chart) – 184.59
S4 (range breakout – red on the 30-minute chart) – 182.37

By using the traditional method of calculation, the weekly pivot levels for GBP/JPY are presented as follows:

Central Pivot Point – 192.71
R1 – 194.14
R2 – 196.75
R3 – 198.18

S1 – 190.10
S2 – 188.67
S3 – 186.06

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • General Electric forecasts sales and revenue growth for 2014General Electric forecasts sales and revenue growth for 2014 General Electric Co. is one of the leading technology and financial services companies worldwide, which develop and manufacture products for the generation, transmission, distribution, control and utilization of electricity. On Wednesday the […]
  • Microsoft shareholders press on  Gates to step down as chairmanMicrosoft shareholders press on Gates to step down as chairman Three of the top 20 investors in Microsoft Corp are persuading the board to press for Bill Gates to step down as chairman of the software company in order to facilitate a change in strategy, according to people familiar with matter.There […]
  • WTI trims weekly gains, Brent below $108WTI trims weekly gains, Brent below $108 Oil prices remained pressured on Friday and extended losses amid Thursdays negative U.S. jobless data and IEAs report which showed rising supply in 2014 will outpace increase in demand.On the New York Mercantile Exchange, WTI crude for […]
  • Forex Market: EUR/USD daily trading outlookForex Market: EUR/USD daily trading outlook Yesterday’s trade saw EUR/USD within the range of 1.0867-1.0940. The pair closed at 1.0893, shedding 0.23% on a daily basis. It has been the seventh drop in the past eleven trading days.At 7:09 GMT today EUR/USD was losing 0.24% for the […]
  • KBR awarded contract by SABIC Fujian PetrochemicalsKBR awarded contract by SABIC Fujian Petrochemicals KBR Inc (NYSE: KBR), a global technology licensor, said on Monday that it had secured a contract by SABIC Fujian Petrochemicals to license KBR's phenol technology in China.Under the terms of the agreement, KBR is to provide technology […]
  • Crude oil trading outlook: futures gain as Ukraine is eyed; US stockpiles supportCrude oil trading outlook: futures gain as Ukraine is eyed; US stockpiles support Both West Texas Intermediate and Brent contracts made sizable gains during early trading in Europe today. Pro-Russian separatists will go ahead and hold the planned independence referendum this weekend, lifting the risk premium for oil. […]