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GBP/JPY outweighs bearish pressure; 153.60 zone maintained

FXstreet.com (Chicago) – GBP/JPY bounced off 153.42 support attempting to erase daily losses after formidable rally that exhausted bulls after reaching 154.85 10-week peaks.

Green Sea of Gains

The FTSE 100 in the UK closed with 0.70% gains after the release of better-than-expected GDP data in the region. At 0.7%, GDP increased from previous -0.3% and out-beat estimates at 0.6%. Total business investment also for the second quarter of the year was 0.9% vs. expected 0.6%, balancing out under performing BBA mortgage approvals at 32.7K vs. projections at 39.2K. In Japan the Nikkei 225 gained 2.21% as stronger global data …read more