Forex – GBP/JPY up in European trading hours

Forexpros – The British Pound was higher against the Japanese Yen on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.

GBP/JPY was trading at 121.58, up 0.31% at time of writing.

The pair was likely to find support at 120.69, Thursday’s low, and resistance at 123.03, Monday’s high.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 57.8 last month from 55.7 in the preceding month.

Analysts had expected UoM consumer sentiment to rise to 56.0 last month.

Meanwhile, the British Pound was up against the U.S. Dollar and the Euro, with GBP/USD gaining 0.05% to hit 1.5809 and EUR/GBP falling 0.77% to hit 0.8714.

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