GBP/JPY erases yesterday’s losses, back to 184.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - A stronger pound in the market boosted the GBP/JPY pair that is rising sharply on Wednesday. Yesterday the pair dropped 160 pips and today it fully recovered boosted by employment data from the United Kingdom and unaffected by some risk aversion.

    The pair moved with an upside bias all day and during the US session peaked at 184.32, marginally below Tuesday’s highs. Currently it trades at 183.95/98, near the level it closed last week and also on Monday.

    GBP/JPY again at the 184.30 area

    The pair made a strong recovery and removed short-term pressure. In order to gain further upside momentum it needs to rise above yesterday’s highs that lie at 184.35; if it manages to post a significant close above the mentioned level it would gain momentum and attention would turn toward the 185.00 influence zone that capped last week’s rally.
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