Japanese Yen Is on the Edge

Stanislav Bernukhov
Published: May 22, 2024, 14:27 GMT+00:00

In this week's Exness Market Outlook we dissect the GBPJPY's precarious stance on the forex ice.

In this article:

GBP/JPY Technical Breakdown and Market Overview

Are we on the verge of a Yen resurgence? Our analysis takes a deep look at the latest technical signals, including the intriguing story the RSI Indicator is telling about possible oversold conditions.

With Japanese bond yields nearing a crucial 1% mark, we explore the implications for carry trades and how this could bolster the Yen against its peers. Could this spell trouble for the British pound’s recent rally?

The GBPJPY pairing could be facing a chilling pullback, but what levels should traders keep an eye on? Our straightforward breakdown helps you understand the dynamics.

Stay ahead of the curve as we highlight key events including the impending FOMC minutes and the Consumer Sentiment Index release. How might these influence market volatility and impact the GBPJPY dance?

By: Stanislav Bernukhov

About the Author

Stanislav became involved in the financial markets in 2004. By 2008, he developed into a full-time individual trader, trading futures and options on the Chicago Mercantile Exchange.

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