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2 Dec 2014
GBP/JPY caught out on the greenback taking back control
FXStreet (Guatemala) - GBP/JPY is trading at 186.36, up 0.09% on the day, having posted a daily high at 186.94 and low at 186.03.
GBP/JPY has rallied on the back of Yen’s weakness resting up on the 119 handle while Sterling remains offered vs the greenback and trades below the 1.57 handle into lower territory on 1.56 with indicators offering a bearish bias bringing 1.5585 into the picture which would hinder any further progress in the cross.
186.60 has been missed on the attempts back to the upside which brings in scope for 186.20 in a series of lower highs as the cross is drifting away back down towards more neutral territory. The cross is at the mercy of the greenback, as is the case elsewhere, with volatility playing out and market themes and subsequent price yet to gain any traction one way or another.
GBP/JPY has rallied on the back of Yen’s weakness resting up on the 119 handle while Sterling remains offered vs the greenback and trades below the 1.57 handle into lower territory on 1.56 with indicators offering a bearish bias bringing 1.5585 into the picture which would hinder any further progress in the cross.
186.60 has been missed on the attempts back to the upside which brings in scope for 186.20 in a series of lower highs as the cross is drifting away back down towards more neutral territory. The cross is at the mercy of the greenback, as is the case elsewhere, with volatility playing out and market themes and subsequent price yet to gain any traction one way or another.