British Poind Might Erase Some Of The Looses After GDP Release

The EUR/USD has been ranging ahead of data coming out later today. At 12:30 GMT, US PPI and Empire State Manufacturing reports will be published. Later, at 13:15 GMT, US industrial production data will come out. Consequently, the pair may experience a good amount of activity later in the day, and may begin to move in anticipation of these reports a little later. However, for now we may see more ranging. Look for support at 1.3335 and resistance at 1.3432.

The USD/JPY  has been climbing slightly since this morning ahead of US data coming out later today. Though recent retail sales data from America has been quite bearish, the yen also faces downward pressure due to the BoJ’s plan to increase the inflation rate to 2%. In addition, the Japanese government often prefers a weaker yen so that large exporters are more competitive. At this moment, we may see the USD/JPY continue to climb. Keep a look out for data later today and look for support at  102.09 and resistance at 102.65.