GBP/JPY slipping below 143.50 as risk aversion builds for Friday
Our preference: the downside prevails as long as 143.92 is resistance.
Alternative scenario: the upside breakout of 143.92, would call for 144.54 and 144.90.
Guppy easing off of Thursday’s gains as risk appetite skews for the week’s end.China’s data miss is sending investors further into safe havens as growth continues to slow for the Asian giant.
GBP/JPY is seeing steady declines in early Friday trading, testing into 143.30 as risk aversion sees investors .stepping back into the safe-haven Yen as Pound traders grow uneasy about the next stages of Brexit.
Risk-off appears to be the flavour of the day for Friday, with the Yen picking up bids across the broader market, fueled by an upswing in Japan’s Tankan data, which showed manufacturing bumping higher than expected,
a welcome showing for the normally-sluggish Japanese economy,
but riskier assets are seeing the wind sucked out of their sails as broader markets remain unsure amidst growing unease about the state of US-China trade relations.