After four days of going up, Pound-Yen is down 42 pips today

GBP/JPY drops from 167.37 to 166.94, losing 42 pips (0.26%) today.

Retail Sales data from United Kingdom will be released tomorrow at 06:00 UTC with analysts expecting a decline to -0.5%. Potentially significant price fluctuations in Pound-Yen are expected to follow.

Amid the market gloom, United Kingdom Consumer Price Index came out at 10.1%, while a consensus of analysts was expecting 9.8%. Japan Tertiary Industry Activity Index (MoM) released today at 04:30 UTC with a figure of 0.7, while the previous figure was 0.7. Japan Trade Balance (Mar) came out at -754.5 billion.

In the meantime, negative performances are also seen in other pairs as USD/CHF is down 47 pips from the beginning of the session and now trades around 0.8927.

Though Pound-Yen has been dropping, other pairs have been performing better: having closed the previous session at 2.0046, GBP/NZD is up 0.46% today to currently trade at around 2.0138. EUR/NZD goes up 0.59% to trade around 1.7755.

Some optimism can drawn from the fact that tomorrow at 06:00 UTC data for United Kingdom Retail Sales will be released, with an expected decline to -0.5% from the preceding figure of 1.2%.

Furthermore, United Kingdom Manufacturing PMI figure is projected at 48.5. It previously stood at 47.9; data will be released tomorrow at 08:30 UTC. United Kingdom Composite PMI figure is projected at 52.6. It previously stood at 52.2; data will be released tomorrow at 08:30 UTC.

The currency pair has been trending positively for about 2 months. After setting a supportive marker at 144.6 around 6 months ago, Pound-Yen is now trading 15.74% higher.