GBP/JPY breaks two consecutive days of gains, down 0.01%. The GBP/JPY daily chart shows the pair in a range. GBP/JPY oscillates in the area of 161.00-162.30, unable to break out of the range. The pair GBP/JPY is oscillating within a tight range for the third day in a row, although on Wednesday it failed to […]
Tag: GBPJPY
GBP/JPY Price Analysis: Falls on haven flows, back below 161.00
GBP/JPY extends its losses, going from around 163.00 to 160.60 in the last four days. Risk aversion in the forex space underpins safe haven pairs. GBP/JPY may resume its bearish bias below 160.34. Otherwise, a test of 162.07 is anticipated. GBP/JPY stumbles and refreshes two-week lows, awaiting a break below the 6 Jul low of […]
GBP/JPY falls to three-day lows amid stronger yen after US CPI.
Japanese yen soars across the board after economic data. The July CPI in the US rises below expectations causing a rise in Treasury bonds. GBP/JPY trims losses after falling to 161.67, the lowest since August 5. The crossing GBP/JPY lost nearly 200 pips after the release of US inflation data triggered a rally in the […]
GBP/JPY Price Analysis: Dips below the 20 DMA as sellers eye the 100 DMA
GBP/JPY is trading around known levels, above 163.00. From a long-term perspective, the cross has a neutral bias, awaiting a catalyst. The GBP/JPY hourly chart has a neutral bias, but is leaning lower as sellers gain momentum, as shown by the RSI. The GBP/JPY falters during the North American session in the middle of a […]
GBP/JPY falls towards 161.50 in reaction to gloomy economic outlook from the Bank of England
GBP/JPY is under intense selling pressure after the Bank of England warns of an economic downturn. The BoE now expects the UK recession to start in the fourth quarter and last for the whole of next year. The revival of the demand for the yen, which is a safe haven, also contributes to the intraday […]
GBP/JPY Price Analysis: Weakened around 164.40, above the 20-day EMA
GBP/JPY loses 0.06% in a swing session. Sentiment remains negative, limiting GBP/JPY gains. The GBP/JPY falls and trims Monday’s earnings on bearish sentiment in financial markets, prompted by US Walmart blaming inflation as the main reason for lowering its earnings forecast. Meanwhile, Russia has cut gas flows through Nord Stream 1, and EU countries have […]
GBP/JPY Price Analysis: Double bottom on the hourly chart pushes the pair above 164.70
GBP/JPY rallies 200 pips and hits a daily high of 165.08. Sterling was buoyed by market sentiment, despite US data reigniting recession fears. GBP/JPY remains range bound after hitting a double bottom target at 164.50. The GBP/JPY erases last Friday’s losses and gains close to 1% on Monday, amid a better market mood, with US […]
GBP/JPY Price Analysis: Pound to drop further with consolidation below 162.00
GBP/JPY is moving sideways in the short term with a bearish bias. A daily close below 162.00 would open the door to more losses. Key resistance is seen at 163.70 and 164.50. The GBP/JPY is falling on Tuesday, trading around 162.50. She has bottomed out at 161.85 and has quickly broken back above 162.00. The […]
GBP/JPY trims modest intraday gains, holds above 163.00 amid JPY weakness
A combination of factors did not help GBP/JPY to capitalize on its modest intraday gains. Brexit woes and less than rosy expectations from the Bank of England continued to act as a headwind for sterling. Risk aversion benefited the yen, which is a safe haven, and capped the cross’s gains. On Monday, the crossing GBP/JPY […]
GBP/JPY recovers to multi-week highs above 163.35 on JPY weakness
GBP/JPY is posting solid gains of almost 1.80% for the week. An upbeat market mood increased appetite for riskier assets. GBP/JPY Price Forecast: Test Apr 28 swing high above 164.00. GBP is rising to fresh multi-week highs on Thursday, up 1.78% and targeting 164.00 amid improving market sentiment. US stocks are recovering from earlier losses, […]