GBP/JPY staged a historic rally on Tuesday, breaking through resistance at 158.00 to hit more than five-year highs above 160.00. That marked a 1.9% gain, the best rally for the day since November 2020. Tuesday’s bullish momentum sees the pair’s gains for the month now stand at almost 4.0% as rising stocks/yields hurt the yen. […]
Tag: GBPJPY
GBP/JPY surges above 157.00, targets yearly highs around 158.00
GBP/JPY advanced above 157.00 on Monday despite a risk-off sentiment in the market and is targeting yearly highs near 158.00. The pair was buoyed by a rise in UK yields along with its global peers. With dovish comments from Bank of England Bailey expected later this week and fragile risk appetite, further upside potential may […]
Rally stalls around 157.00 despite positive market sentiment
The British pound is up 0.75% as the American session progresses on Friday. Investor market sentiment is upbeat, as reflected by Wall Street, trading at a profit. GBP/JPY Price Forecast: To the upside, but starting to face solid resistance around the 157.00-158.00 area. During the American session, the British pound is posting a notable rally […]
GBP/JPY fails to hold above 156.00
Despite the general state of risk appetite in the market on Thursday, the moderate BoE rate hike prevented the GBP/JPY pair from holding above 156.00. Amid rumors of a Russia-Ukraine peace deal that could affect safe haven currencies like the yen, this may not be enough to prevent a rally in the GBP/JPY pair. The […]
GBP/JPY corrects sharply from multi-week highs, dips below 155.50 after BoE
GBP/JPY fell more than 120 pips from a four-week high in a knee jerk reaction to the BoE decision. The BoE raised rates by 25 bps, disappointing some investors who had anticipated a more aggressive rate hike. Ukraine diplomacy hopes undermined the JPY safe haven and provided support ahead of the BoJ. The crossing GBP/JPY […]
It faces solid resistance around 154.60
The pound sterling rally continues against the Japanese yen. Positive UK jobs data and GDP further consolidate the BoE rate hike. GBP/JPY Price Forecast: Neutral bias to the upside, but downside risks remain due to solid resistance around 154.60-155.00. The GBP/JPY extends its rally to three consecutive days, thus nullifying the double top chart pattern, […]
GBP/JPY retakes the 154.00 level and above, at one-week highs
GBP/JPY gained traction for the second day in a row and soared to a one-week high on Monday. Risk appetite weighed on safe haven JPY and continued to support the strong move. Technical buying above the very important 200-day SMA provided additional momentum to the cross. The crossing GBP/JPY extended its strong positive intraday move […]
GBP/JPY fails to hold above 153.00 as 200 DMA acts as barrier
GBP/JPY looks to post solid gains on Friday after bouncing from below 152.00 but failed to hold above 153.00. The 200 DMA at 153.20 plus declining risk appetite during US hours amid geopolitical concerns weighed on the pair. The rise of GBP/JPY Friday has eased a bit from the start of US trade, with the […]
Wednesday’s rally capped at the neckline and pulls back near 152.00
GBP/JPY resumed its downtrend once GBP bulls failed to break the double bottom neckline. A bearish market mood fueled demand for haven assets, including the yen. GBP/JPY Technical Outlook: The downtrend has resumed and will accelerate if a daily close below 152.00 is achieved. The GBP retreats from weekly highs amid market risk aversion as […]
Respect the double top neckline, trade around 152.65
The GBP/JPY pair trims last week’s losses but remains below a double top neckline as downside risks remain. Risk appetite in the market dented the appetite for the JPY as a safe haven. GBP/JPY Technical Outlook: Retest of a double top on the daily chart opens the door for renewed selling pressure. The British Pound […]
