The GBP/JPY pair went back and forth during the course of the session on Wednesday, as we continue to bounce just above the 130 handle. Because of this, I
The GBP/JPY pair went back and forth during the course of the session on Wednesday, as we continue to bounce just above the 130 handle. Because of this, I think we are testing serious support, and if we can break down below the 129 level, because at that point time I feel we could go to the 125 handle. However, the Bank of Japan is starting to get a little less than enthused about the strengthening Japanese yen, so be aware the fact that the central bank may trying to do something that cause a bit of a bounce.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
