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GBP/JPY taking a breather on the bulls journey up to R2

FXStreet (Guatemala) - GBP/JPY is trading at 181.59, down -0.09% on the day, having posted a daily high at 182.18 and low at 181.13.

GBP/JPY has settled on the bid of late while the Yen has been punished from the aggressive and surprise action of the BoJ. But there were more powers at work than just the BoJ weighing on the Yen. The Fed came across more hawkish than what one might have expected which only added to the Yen’s weakness. Given then that the plan essentially by Governor Haruhiko Kuroda is to weaken the Yen, what is interesting is that still there has not been much in the way of discontent on such an aggressive move from around the Central banks and thus the pair remains very much within bullish territory still on a weaker Yen basis.

GBP/JPY noteworthy levels

Current price is 181.60, with resistance ahead at 181.76. Next support to the downside can be found at 181.50 (Hourly 20 EMA), 181.32 (Daily Classic PP), 181.13 (Daily Low), 180.10 (Daily Classic S1) and 179.66 (Yesterday's Low).

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