The pound is balanced by mixed economic data such as the higher unemployment rate of 4.5% while the claimant count change came in lower-than-expected with about 28.1K and the average earnings index changed positively towards 0.0% with the forecast of minus 0.6%. The pound rose about four days against the Japanese yen, trading above the EMA structure and testing the prior microbalance for yen buyers.

The pound rose the second week in a row about 1.1% and broke above the EMA50. Yesterday the GBP/JPY closed with minus 0.1% after the rate gained three days in the row, testing the microbalance for resistance. The hourly is rotational, therefore market participants might lean on the balance extremes for potential trades with the purpose of absorption while the market trades supportive above the EMA structure.

(Click on image to enlarge)

(Click on image to enlarge)