Forex traders will get plenty of economic data out of the UK this morning. Industrial production, manufacturing production, GDP data and service sector data will be in focus and is expected to move the British Pound. Latest rumors surrounding Brexit called for the EU to give a major concession to the UK in order to potentially reach a deal. How will today’s data and the latest Brexit developments impact the GBPJPY? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Japanese economic data disappointed during the Asian trading sessions and as machine orders decreased more than expected. Inflationary pressures remained absent while bank lending eased. The Japanese Yen remained strong despite the economic reports as uncertainty about today’s start of high level US-China trade talks resulted in a rise in safe haven demand. How will the GBPJPY react as talks start later this afternoon? Today’s fundamental analysis will cover price action in both directions.