BoE rate expectations remain aggressive. Looking ahead to next week, with little on the domestic front, the ebb and flow of risk appetite will dictate price action for the Pound. Meanwhile, upside is likely to persist for GBP/JPY heading into month-end. more...
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Negative Break to The Downside Since early Jan GBP/JPY has been trading to the upside from the higher-high created on Jan 25 at 144.84, to Feb 7 higher low at 141.01. On Feb 25 the pair opened with an exhaustion gap indicating that the uptrend would end soon. GBP/JPY started to correct this movement on April 3 carving a lower high at 147.20 and a higher low on April 9 at 144.78, then to start a bearish movement creating on April 12 another lower high at 147.01 with a lower ...
GBP/JPY Reverses After Earlier-Quarter Breakout It's been a big start to the second half of the year for the Japanese Yen. After opening into Q3, Yen weakness showed against a number of currencies, the British Pound included - and this helped GBP/JPY to make another approach at the 150.00 level. But, just as we saw in early-June, resistance came-in on the underside of the 2017 bullish trend-line, and prices promptly reversed. GBP/JPY has dropped every day of this week Monday thru ...
GBP/JPY Bounce to Resistance at Prior 2018 Low This week started off with an increased slate of worry as financial markets gripped for the possibility of another summer of political volatility out of Europe. This helped to bring considerable strength into the Japanese Yen, helping pairs like EUR/JPY and GBP/JPY fall down to fresh 2018 lows. In GBP/JPY, the selling was especially noticeable, as both a weak British Pound and ...
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