The British pound (GBP) inched lower against the Japanese yen (JPY) today.

Currently, the GBP/JPY currency pair hovers around the price of 151.78. More than three support levels are standing below the price to boost the price above the mentioned level.

Upcoming activities are on the list that might disturb the rising momentum of the GBP/JPY pair.

First, the National Statistics expects to provide data on UK manufacturing output on Friday (September 10, 2021). The GBP Market Manufacturing PMI reported a value of 0.1 percent in July, according to analysts, compared to the month before the index.

Manufacturing production is a short-term measure of the strength of manufacturing activity in the United Kingdom, which accounts portion of the overall GDP. A low reading is unfavorable (or bearish).

Then, industrial production might register a figure of 0.4% in July, as per economists’ prediction. 

The Industrial Production Index monitors the production of industries and mines in the United Kingdom. Industrial output changes are a good measure of the manufacturing sector’s health.

The gross domestic product (GDP) might register a figure of 0.6% in July compared to the month before data of 1% as per economists view.

The GDP is a metric that measures the total value of all products and services generated in the United Kingdom. A rising trend has a positive impact on the GBP.

Trade Idea

Considering the pair’s price movement over the last several days, purchasing it at current levels might result in some short- to medium-term profits.