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GBP/JPY conquering new grounds with conviction

FXStreet (Guatemala) - GBP/JPY is trading at 181.80, up 0.03% on the day, having posted a daily high at 182.18 and low at 181.75.

GBP/JPY is riding the 114 handle having surged with conviction yet again. The pair has now completed over a 500 pip gain since Thursday’s dramatic events with the US dollar coming up trumps across the board within a hawkish Fed and a BoJ that extended its QE programme, softening the local currency. USD/JPY is well in control of the pair here with sterling bowing down due to a renewed specialism on the outlook for UK rates on the dovish side. We will now await the BoE’s inflation report next week though for clarity on that note while the BoE’s decision this week is not expected to come with a statement again on a no change outcome that’s widely anticipated.

GBP/JPY noteworthy levels

Spot is presently trading at 181.82, and next resistance can be seen at 181.87 (Weekly Classic R1), 183.22 (Daily Classic R2) and 184.07 (Weekly Classic R2). Support below can be found at 181.76 (5 Year High).

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