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GBP/JPY rises to test 2014 highs

FXStreet (Córdoba) - GBP/JPY jumped more than a hundred pips during the last hours, supported by Bank of England minutes and a decline of the yen across the board, and rose to test 2014 highs.

GBP/JPY with bullish momentum

The pair printed a fresh daily high at 184.51 (1-week high) and stopped the rally below 2014 highs. Last week the pound rose to 184.66, hitting the highest price since October 2008. The 184.50/65 area is an important resistance; a break higher could trigger another rally.

Today GBP/JPY approached 2014 highs and pulled back, but still hold some bullish momentum . Despite the retreated from the highs price has been able to hold above 184.00 and currently trades at 184.30; on it ways toward the highest daily close in years.

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