FXStreet (Mumbai) – The GBP/JPY finally managed to take out the offers in the resistance zone of 189.80-190.00 to clock an intraday high of 190.22.
Yen driven strength
The latest rise in the GBP/JPY was largely driven by the fall in the Yen against the US dollar. The Yen fell after Japan’s Amari and Aso did not sound worried about Yen’s slide to eight year lows against the USD. Moreover, the officials stated the fx moves reflect USD strength rather than JPY fall.
Meanwhile, the pair is now hovering slightly lower from the daily high at 190.13. It remains to be seen if the pair manages to close today above 190.00 levels or not.
GBP/JPY Technical Levels
The immediate resistance is seen at 190.22, above which the pair could rise to 192.00. On the flip side, a break below 190.00 could drive the pair lower to 189.70.
(Market News Provided by FXstreet)