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Forex: GBP/JPY recovers ground as Kuroda speaks

FXstreet.com (Córdoba) - The GBP/JPY dropped sharply on Monday, losing more than a hundred pips. During the American session bottomed at 141.90 but rebounded and trimmed losses ending the day near 143.00.

At the start of the Asian session the GBP/JPY continues its recovery as H. Kuroda, governor of the Bank of Japan speaks in the parliament. The yen is falling at a moderate pace across the board.

Recently the pair hit a fresh daily high at 143.25 but the Pound so far has been unable to hold on top of 143.20. Above 143.20, resistance comes at 143.50 and 143.80. Support levels lie at 142.45 (daily low), 141.85 (Mar 25 low) and 141.50.

Forex Flash: Cyprus will face a deep and prolonged adjustment process – BBH

Yesterday Cyprus reached an agreement with the troika that allowed the country to save its financial system but in the long term is going to face a deep and prolonged adjustment process, according to Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman.
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Forex: USD/JPY higher on Kuroda's promises; Again

USD/JPY is currently printing fresh session highs at 94.40 on the back of BoJ's Kuroda comments to Japanese parliament. It looks like no matter how many times they repeat the same speech, it always works out the same way, devaluing the Yen. The pair bounces from fresh 3-week lows at 93.50, printed by mid NY session following FED's Bernanke words. Nikkei index is still down -0.31% for the day, around the 12500 points mark. The CSPI index showed a positive figure at +0.1% for the first time since July last year.
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