GBP/JPY Signal - JPY Retail Trade Sales - 27 Oct 2020

GBPJPY is moving sideways today prior to JPY Retail Sales Data. captures the aggregate sales made through a business location (usually a store) in which the principal activity is the sale of merchandise and related services to the general public, for household or personal consumption. Consumer spending is a key important indicator for the Japanese economy. UK and EU Brexit Negotiations are set to resume tomorrow, which may give GBP upside as traders look for a positive announcement.
Technically the pair is below the 50 moving average but above the 136.080 pivot level. We anticipate upside on the pair into 137.500.