Mildly bid above 166.00, 13-day-old hurdle eyed

GBP/JPY picks up bids to portray a three-day uptrend. Sustained break of weekly resistance line directs buyers towards a fortnight-old hurdle. Convergence of the key SMAs, resistance-turned-support and an immediate upward sloping trend line highlight 165.40 as the key support. GBP/JPY refreshes intraday high near 166.40 during the third positive daily performance amid Tuesday’s Asian … Read more

GBP/JPY sticks to intraday gains around 166.25-30 area, lacks bullish conviction

GBP/JPY gained traction for the second straight day on Monday, though lacked follow-through. A generally positive risk toned the safe-haven JPY amid the BoJ’s dovish outlook. Recession fears, bets for more gradual BoE rate hikes capped the upside amid Brexit woes. The GBP/JPY cross attracted some dip-buying near the 165.15-165.10 region on Monday and turned … Read more

Remains firm at around 165.40, in a mixed market mood

The GBP/JPY stays positive in the week, gaining 0.42%. A fragile sentiment triggered by recession fears might send the pair tumbling and erase the pound’s weekly gains. GBP/JPY Price Analysis: Upward biased in the medium term, but the short term is consolidating and might fall if sellers step in and could dive towards 164.00. The … Read more

GBP/JPY tumbles below 167.50 ahead of UK Inflation and BOJ’s minutes

GBP/JPY has displayed a momentum loss on higher forecasts for the UK Inflation. The BOJ minutes will disclose the secret behind keeping a neutral stance on the interest rates. The annual inflation rate of 2.9% in Japan is majorly contributed by soaring oil and food prices. The GBP/JPY pair has witnessed a steep fall in … Read more

GBP/JPY lacks momentum strength around 165.00, UK PMIs, BOE policymakers eyed

GBP/JPY struggles for clear directions after the first weekly loss in five. Japan’s economic assessment, Kuroda’s comments fail to impress sellers amid in action at the bond markets. UK fundamentals keep bears hopeful amid fears of economic slowdown. BOE’s Haskel, Mann could be eyed for intraday directions, UK PMIs are the key. GBP/JPY remains directionless … Read more

Pierces 200-HMA as BOJ leaves monetary policy unchanged

GBP/JPY prints three-day uptrend despite the latest pullback from intraday high. Immediate support line, bullish MACD signals and BOJ’s inaction together help buyers. Sellers have a bumpy road to travel before taking control. GBP/JPY reverses the knee-jerk reaction to the Bank of Japan’s (BOJ) monetary policy meeting while staying firmer around 164.60 during Friday’s Asian … Read more

GBP/JPY surpasses 164.00 firmly as odds of a BOJ’s prudent policy advances

GBP/JPY has scaled above 164.00 swiftly on BOE-BOJ policy divergence. An unchanged policy stance is expected from the BOJ to keep injecting money into the economy. The BOE raised its interest rates by 25 bps to 1.25%. The GBP/JPY pair has overstepped its two-day high and has crossed the critical resistance of 164.00 swiftly on … Read more

Steady above 163.00 amidst a positive sentiment, a bearish flag looms

The GBP/JPY trims weekly losses though prevails down, losing 1.34%. The cross-currency is trading near the top of a bearish flag. GBP/JPY upward break above the bearish flag might send the cross towards 164.00. The GBP/JPY is recovering some ground, following a 700 pip drop from YTD highs around 168.70s towards 161.30s, courtesy of constant … Read more

Bounces off 162.60 support confluence ahead of UK jobs report

GBP/JPY takes the bids to refresh intraday high while snapping three-day downtrend. Convergence of the 50-DMA, 20-DMA and monthly support line immediate challenge downside. Bulls need validation from March’s high, UK employment numbers. GBP/JPY refreshes intraday high around 164.00 as traders await the UK’s employment data during early Tuesday morning in Europe. The pair’s latest … Read more