GBP/JPY sidelined around 131.00 post-data

GBP/JPY is extending its daily sideline pattern on Thursday, currently meandering around the 131.00 handle.

GBP/JPY unchanged on UK releases

The cross is looking to consolidate the recent drop to fresh multi-year lows in sub-129.00 levels against a context of alternating RO/RO trends.

On the data front, UK’s Industrial/Manufacturing Production have surpassed expectations during May, although market participants remained apathetic in the wake of the results.

Next on tap will be the UK’s NIESR GDP Estimate followed by tomorrow’s Japanese Current Account figures (¥1.75 trillion exp.).

GBP/JPY key levels

As the moment the cross is up 0.01% at 131.03 and a break above 133.18 (post-Brexit low Jun.24) would open the door to 139.05 (high Jun.29) and finally 143.69 (20-day sma). On the other hand, the next support lines up at 128.80 (low Jul.6) ahead of 125.63 (monthly low Nov.2012) and then 124.68 (monthly low Oct.2012).