Forex - GBP/JPY up during the European session

Forex News - The British Pound was higher against the Japanese Yen on Wednesday after the release of U.K. data on Claimant Count Change.

GBP/JPY was trading at 122.33, up 2.46% at time of writing.

The pair was likely to find support at 118.27, Friday’s low, and resistance at 122.36, today’s high.

Earlier in the day, official data showed that the U.K. claimant count change rose less-than-expected to a seasonally adjusted 17.5K last month from 19.1K in the preceding month whose figure was revised down from 20.3K.

Analysts had expected U.K. claimant count change to rise 24.0K last month.

Meanwhile, the British Pound was up against the U.S. Dollar and the Euro, with GBP/USD gaining 1.37% to hit 1.5790 and EUR/GBP falling 0.18% to hit 0.8740.