4 Sep 2013
GBP/JPY refuses to roll over – thus far; key hurdle remains 155.81
FXstreet.com (Barcelona) - The GBP/JPY has remained at a very elevated level despite some short-term Yen strength and pound weakness. BOE and BOJ will be the big drivers of trading this week.
GBP/JPY to be tugged in either direction by central bank announcements – on Thursday
There will be some minor data out from Britain and Japan in the next 24 hours, but GBP/JPY traders are clearly biding their time until the two countries’ central banks make their interest rate decisions and release their policy statements on Thursday.
Technical outlook for GBP/JPY
Technicians say any breakout above 155.81 in GBP/JPY will lead to much more upside but that any bearish reversal at or below that level could lead to a move down to 147.17 – and possibly lower.
GBP/JPY to be tugged in either direction by central bank announcements – on Thursday
There will be some minor data out from Britain and Japan in the next 24 hours, but GBP/JPY traders are clearly biding their time until the two countries’ central banks make their interest rate decisions and release their policy statements on Thursday.
Technical outlook for GBP/JPY
Technicians say any breakout above 155.81 in GBP/JPY will lead to much more upside but that any bearish reversal at or below that level could lead to a move down to 147.17 – and possibly lower.